Question

Match the description with the business structure type. To match the

Answer 1

Answer:

See below

Explanation:

1. Sole proprietorship

A company with one owner, personal liability, and pass-through taxation.

The owner makes all decisions by themselves and keeps all the profits. Business income is also owner income. Likewise, business debts are the owner's debts.

2. LLC

A company with multiple owners, limited liability, and pass-through taxation. A minimum of one owner but no upper limit. Owners are referred to as members.

3. Corporation

A company with multiple owners, limited liability, and higher taxes.

It is regarded as a separate entity from its owners. A corporation is expected to file corporate tax returns.

4. Partnership

A company with multiple owners, personal liability, and pass-through taxation.  A partnership is formed when friends or entrepreneurs with similar interests combine efforts to start a business. They develop a partnership deed that guides their business operations.