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"Zane and Blaine want to start up a clothing business in California. Zane is the...

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user1193316 | eNotes Newbie

Posted October 20, 2013 at 7:41 PM via web

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"Zane and Blaine want to start up a clothing business in California. Zane is the accountant and Blaine is the entrepreneur, though Blaine has little respect for the concept of fiscal responsibility. How should they proceed?"
 
They should form a general partnership because it is easy to form and could benefit them at tax time.
 
They should form a limited partnership with Zane as general partner and Blaine as limited partner.
 
They should form an limited liability partnership.
 
They should form a limited partnership with Blaine as the general partner and Zane as the limited partner.

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