Questions: Access Pearson Student Dashboard Chapter 3 Post-Quiz My Course - Fundamentals o f2/assignments/38860662-5764-48bc-bce3-8145b17fbcc3/pages/urn:pearson:entity:b72756b0-43a6-4149-a8fb-d6acbe4248017source=dashboard Question 10 of 10 - of 2 points Post-Quiz: Question 10 2 tries left Which type of business is permitted to operate as a limited liability partnership (LLP) in most states? A restaurant A high-end electronics retailer A lawn mowing service An accounting firm Submit D

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LLPs are a business structure that protects partners from personal liability for the negligence or misconduct of other partners. This structure is commonly used by professionals in fields where liability is a significant concern.

• A restaurant: Restaurants typically operate as sole proprietorships, LLCs, or corporations, not LLPs.
• A high-end electronics retailer: Similar to restaurants, electronics retailers typically use other business structures like LLCs or corporations.
• A lawn mowing service: Lawn mowing services also generally do not operate as LLPs, opting for simpler structures like sole proprietorships or LLCs.
• An accounting firm: Accounting firms, along with other professional service businesses like law firms and medical practices, commonly operate as LLPs to protect individual partners from liability for the actions of others within the firm.

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