Your friend tells you he is working on setting up a business. He tells you he has a business partner who shares in all decision making, it has been fairly easy to set up, he will only be taxed once on company profits, and he has limited liability for the company. What kind of business has your friend most likely described?

Ivan, a russian fishermen, needs a permit so that he can commercially participate in ice fishing for yellow perch and then the consequent sales. garet is an undergraduate student who has to work at mcdonald\'s part time to pay his tuition loans. always looking on the bright side of things, he is that he can\'t make less than what he is earning, $7.25 an hour. d\'artagnan, a poor french noblemen, discovers a large cache of truffles in his backyard. however, the government caps the sale of truffles at $100 a pound, which frustrates d\'artagnan as he knows they are worth more than that. athos is an avid collector of swords, but as they are illegal to purchase, he goes by illicit means to obtain them. to out irish farmers, the government sets the minimum price of potatoes at $26 a bushel. in order to support domestic sales of textiles, the country of germany puts a cap on the amount of foreign textiles it imports.