Question

drag the tiles to the correct boxes to complete the pairs. match each business structure with its description. sole proprietorship partnership corporation limited liability corporation 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

Explanation:

1. Limited liability corporations (LLCs) shield owners' personal assets from business liabilities, and the business's income is passed through to owners' personal tax returns (not a separate tax entity).
2. A sole proprietorship is owned by one individual who is fully personally liable for all business debts and obligations.
3. Partnerships involve multiple owners, and conflicts can arise if partners contribute unequal time or effort to the business.
4. Corporations are highly regulated by government bodies, require extensive formal paperwork to establish, and typically have high initial start-up costs.

Answer:

• The business owners' personal assets are protected from liabilities, but the business is not a separate tax entity. → limited liability corporation
• A single individual is personally responsible for all liabilities incurred by the business. → sole proprietorship
• One business owner may contribute less time and effort than the other, leading to disputes and bitterness. → partnership
• The business structure is strictly regulated by the government, requires an overwhelming amount of paperwork, and involves high start-up costs → corporation