Matching
Match the following characteristics with the form of business entity that best describes it. Each may be used more than once.
Premises:
Comprises 70% of business entities in the United States
Generates 90% of business revenues
Owned by two or more individuals
Organized as a separate legal taxable entity
Easy and cheap to organize
Often used as an alternative to a partnership
Used by large businesses
Has the ability to obtain large amounts of resources
Offers tax and legal liability advantages for owners
Responses:
Proprietorship
Partnership
Corporation
Limited liability company (LLC)
Correct Answer:
Premises:
Responses:
Comprises 70% of business entities in the United States
Generates 90% of business revenues
Owned by two or more individuals
Organized as a separate legal taxable entity
Easy and cheap to organize
Often used as an alternative to a partnership
Used by large businesses
Has the ability to obtain large amounts of resources
Offers tax and legal liability advantages for owners
Premises:
Comprises 70% of business entities in the United States
Generates 90% of business revenues
Owned by two or more individuals
Organized as a separate legal taxable entity
Easy and cheap to organize
Often used as an alternative to a partnership
Used by large businesses
Has the ability to obtain large amounts of resources
Offers tax and legal liability advantages for owners
Responses:
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