Question

part 3: scenario questions

1. mia and jordan open a bakery together. they split profits evenly and are both personally responsible for debts.

type: ______

1. a group of doctors form a practice where they can share resources, but they are only personally liable for their own malpractice, not each other’s.

type: ______

1. a film company and a video game company work together to release a new superhero movie and game at the same time.

type: ______

1. ethan invests $50,000 in a car dealership but doesn’t help run the business. the managing partner takes care of operations.

type: ______

Explanation:

1. In a general partnership, partners share profits and are personally liable for debts. Mia and Jordan's bakery fits this.
2. A limited - liability partnership (LLP) allows partners to share resources while being liable only for their own malpractice. The doctors' practice is an LLP.
3. A strategic alliance is a cooperative agreement between two or more companies to achieve a specific goal. The film and video - game companies' joint release is a strategic alliance.
4. A limited partnership has general partners who manage the business and limited partners who invest but have limited management involvement. Ethan is a limited partner.

Answer:

1. General Partnership
2. Limited - Liability Partnership
3. Strategic Alliance
4. Limited Partnership