practice\nmatch the description with the business structure type. to match the items, click the description…

practice\nmatch the description with the business structure type. to match the items, click the description, and then click the business structure.\na company with multiple owners, limited liability, and higher taxes.\na company with one owner, personal liability, and pass - through taxation.\na company with multiple owners, personal liability, and pass - through taxation.\na company with multiple owners, limited liability, and pass - through taxation.\nsole proprietorship\npartnership\nllc\ncorporation

practice\nmatch the description with the business structure type. to match the items, click the description, and then click the business structure.\na company with multiple owners, limited liability, and higher taxes.\na company with one owner, personal liability, and pass - through taxation.\na company with multiple owners, personal liability, and pass - through taxation.\na company with multiple owners, limited liability, and pass - through taxation.\nsole proprietorship\npartnership\nllc\ncorporation

Answer

Brief Explanations:

  1. A corporation has multiple owners, limited - liability for shareholders, and often higher taxes due to double - taxation (corporate income tax and then dividends taxed to shareholders).
  2. A sole proprietorship has one owner, the owner has personal liability for business debts, and pass - through taxation where business income is reported on the owner's personal tax return.
  3. A partnership has multiple owners, partners have personal liability for partnership debts, and pass - through taxation where partnership income is allocated to partners who report it on their personal tax returns.
  4. A Limited Liability Company (LLC) has multiple owners, limited liability for members, and pass - through taxation.

Answer:

  1. A company with multiple owners, limited liability, and higher taxes. - Corporation
  2. A company with one owner, personal liability, and pass - through taxation. - Sole proprietorship
  3. A company with multiple owners, personal liability, and pass - through taxation. - Partnership
  4. A company with multiple owners, limited liability, and pass - through taxation. - LLC