The word "firm" is most appropriately used to describe which business structure?A privately held corporationAny partnershipA partnership of lawyers or accountants onlyA limited partnership only
Question
The word "firm" is most appropriately used to describe which business structure?A privately held corporationAny partnershipA partnership of lawyers or accountants onlyA limited partnership only
Solution
The word "firm" is most appropriately used to describe "A partnership of lawyers or accountants only". This term is often used to refer to a business entity formed by one or more lawyers who engage in the practice of law. Similarly, it can also refer to accountancy companies.
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