business and forms\nin this quiz, you will compare the different forms of business ownership.\nvalue…

business and forms\nin this quiz, you will compare the different forms of business ownership.\nvalue: 8\nmatch the items.\na. the owner gets all of the profit and has all of the liability of the business.\nb. the shareholders are shielded from business liabilities.\nc. the owners share the personal liability of the business.\nd. the members pay tax on profit on a pass - through basis.\n1. sole proprietorship\n2. partnership\n3. corporation\n4. limited liability corporation

business and forms\nin this quiz, you will compare the different forms of business ownership.\nvalue: 8\nmatch the items.\na. the owner gets all of the profit and has all of the liability of the business.\nb. the shareholders are shielded from business liabilities.\nc. the owners share the personal liability of the business.\nd. the members pay tax on profit on a pass - through basis.\n1. sole proprietorship\n2. partnership\n3. corporation\n4. limited liability corporation

Answer

Brief Explanations:

  • In a sole - proprietorship, the single owner gets all profit and has all business liability.
  • In a corporation, shareholders have limited liability and are shielded from business liabilities.
  • In a partnership, owners share the personal liability of the business.
  • In a limited - liability corporation, members pay tax on profit on a pass - through basis.

Answer:

a. 1. Sole Proprietorship b. 3. Corporation c. 2. Partnership d. 4. Limited Liability Corporation