Question
Match the words with the descriptions.
a business owned by two or more individuals
a business that is established as a legal entity, separate from the owners themselves
a business owned by a single person
a hybrid form of business structure that combines the benefits of both a corporation and a partnership
a con of this business structure is that they are often harder to manage due to interpersonal conflicts
a pro of this business structure is that members are not held personally liable for debts or liabilities while allowing members to receive revenues
a pro of this business structure is that the owner is allowed to keep all profit
a con of this business structure is that managers cannot pay themselves wages (but can have a share of the profits)
a business owned by two or more individuals
a business that is established as a legal entity, separate from the owners themselves
a business owned by a single person
a hybrid form of business structure that combines the benefits of both a corporation and a partnership
a con of this business structure is that they are often harder to manage due to interpersonal conflicts
a pro of this business structure is that members are not held personally liable for debts or liabilities while allowing members to receive revenues
a pro of this business structure is that the owner is allowed to keep all profit
a con of this business structure is that managers cannot pay themselves wages (but can have a share of the profits)
Answers
GPT-4o mini
Here are the matches between words and their descriptions:
1. **Partnership**: a business owned by two or more individuals
2. **Corporation**: a business that is established as a legal entity, separate from the owners themselves
3. **Sole Proprietorship**: a business owned by a single person
4. **Limited Liability Company (LLC)**: a hybrid form of business structure that combines the benefits of both a corporation and a partnership
5. **Partnership**: a con of this business structure is that they are often harder to manage due to interpersonal conflicts
6. **Limited Liability Company (LLC)**: a pro of this business structure is that members are not held personally liable for debts or liabilities while allowing members to receive revenues
7. **Sole Proprietorship**: a pro of this business structure is that the owner is allowed to keep all profit
8. **Limited Liability Company (LLC)**: a con of this business structure is that managers cannot pay themselves wages (but can have a share of the profits)
1. **Partnership**: a business owned by two or more individuals
2. **Corporation**: a business that is established as a legal entity, separate from the owners themselves
3. **Sole Proprietorship**: a business owned by a single person
4. **Limited Liability Company (LLC)**: a hybrid form of business structure that combines the benefits of both a corporation and a partnership
5. **Partnership**: a con of this business structure is that they are often harder to manage due to interpersonal conflicts
6. **Limited Liability Company (LLC)**: a pro of this business structure is that members are not held personally liable for debts or liabilities while allowing members to receive revenues
7. **Sole Proprietorship**: a pro of this business structure is that the owner is allowed to keep all profit
8. **Limited Liability Company (LLC)**: a con of this business structure is that managers cannot pay themselves wages (but can have a share of the profits)