Question

which business structure requires at least one general partner? *
sole proprietorship
partnership
llc
corporation

Explanation:

• Sole Proprietorship: Owned by one individual, no partners, so this is incorrect.
• Partnership: A partnership (specifically a general partnership) requires at least one general partner who manages the business and has unlimited liability. Limited partnerships also have at least one general partner along with limited partners.
• LLC (Limited Liability Company): Members can manage the LLC, and it does not require a general partner in the same way a partnership does.
• Corporation: Owned by shareholders, managed by a board of directors and officers, no general partners required.

Answer:

B. Partnership