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Firm organization

The liability of the shareholders of "Acme" architecture corp. is limited to their share of the ownership of the firm. However, the state in which the firm is located requires that professionals including doctors, lawyers, and architects must form what type of corporation to recognize the professional liability of such licensees?
A. PLLC, B. PC, C. S-Corp., D. LP




Answer is B. Professional Corporation is a form of corporation often mandated to cover certain licensed professionals. PLLC is similar but is not a corporation. S-Corp is a form of corporation allowing flow-thru tax liabilities. LP is limited partnership.
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