Ask a New Question
Menu

Match the disadvantages with the legal business structures.

has the owner assume full liability over debts, losses, and legal problems

incurs annual fees and refiling with the state

requires annual meetings and strict financial recording and reporting

requires few meetings with owners or financial reporting formalities

OPTIONS:
A. corporation
B. partnership
C. limited liability company
D. sole proprietorship

1 answer

Here are the matches for the disadvantages with the legal business structures:

  1. has the owner assume full liability over debts, losses, and legal problems - D. sole proprietorship

  2. incurs annual fees and refiling with the state - A. corporation

  3. requires annual meetings and strict financial recording and reporting - A. corporation

  4. requires few meetings with owners or financial reporting formalities - C. limited liability company (LLC)

So, the final matches are:

  • D. sole proprietorship - owner liability
  • A. corporation - annual fees and strict reporting
  • A. corporation - annual meetings and strict reporting
  • C. limited liability company - fewer meetings and formalities