<h2>Answer</h2><h3>1)</h3>
<em>The business owners’ personal assets are protected from liabilities, but the business is not a separate tax entity </em>Limited liability corporation.<em> </em>
Limited liability corporation is not considered separate from its owners for tax purposes.
<h3>2)</h3>
<em>A single individual is personally responsible for all liabilities incurred by the business </em>Sole Proprietorship.
The business is owned and run by one person, and owner and business are considered as a same entity.
<h3>3)</h3>
<em>One business owner may contribute less time and effort than the other, leading to disputes and bitterness </em>Partnership.
The business is owned and run by more the one person which means there is more than one owner.
<h3>4)</h3>
<em>The business structure is strictly regulated by the government, requires an overwhelming amount of paperwork, and involves high start-up costs </em>Corporation.
A corporation is a legal entity that is separate and distinct from its owners.
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