Match each business structure with its description.

Tiles

sole proprietorship

partnership

corporation

limited liability corporation

Pairs

The business owners' personal assets are protected from liabilities, but the business is not a separate tax entity.

A single individual is personally responsible for all liabilities incurred by the business.

One business owner may contribute less time and effort than the other, leading to disputes and bitterness.

The business structure is strictly regulated by the government, requires an overwhelming amount of paperwork, and involves high start-up costs.

Question

Herman

History

6 March, 00:29

Match each business structure with its description.

Tiles

sole proprietorship

partnership

corporation

limited liability corporation

Pairs

The business owners' personal assets are protected from liabilities, but the business is not a separate tax entity.

A single individual is personally responsible for all liabilities incurred by the business.

One business owner may contribute less time and effort than the other, leading to disputes and bitterness.

The business structure is strictly regulated by the government, requires an overwhelming amount of paperwork, and involves high start-up costs.

+5

Answers (1)

Know the Answer?

Edgar Vargas · Answer 1

The correct matches are as follows:

1. Sole proprietorship: A single individual is personally responsible for all the liabilities incurred by the business.

2. Limited liability corporation : One business owner may contribute less time and effort than the other, leading to disputes and bitterness.

3. Corporation: The business structure is strictly regulated by the government, requires an overwhelming amount of paper work and involve high start up costs.

4. Partnership:The business owner personal assets are protected from liabilities but the business is not a separate tax entity