Question

gregs band wants to form a partnership. general partners will include the drummer, two guitarists, one keyboardist, and one singer. gregs great - uncle, a musician in his own right, plans to provide $30,000, but does not plan to participate in the gigs, only in the profits. the band will form a ______________. limited partnership limited liability company sole proprietorship general partnership

Explanation:

A limited partnership has general partners who manage the business and have unlimited liability, and limited partners who contribute capital but do not participate in day - to - day operations and have limited liability. Here, the band members are general partners and Greg's great - uncle is a limited partner. A limited liability company is a different legal entity structure. A sole proprietorship is owned by one person. A general partnership has all partners participating in management and having unlimited liability. Since Greg's great - uncle is a non - participating partner providing capital, it's a limited partnership.

Answer:

limited partnership