Tiles: Sole; Proprietorship; Partnership; Corporation; Limited liability corporation

Biology

1 answer:

disa [49]3 years ago

3 0

<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.

<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.

<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.

<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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