Match the following definitions to the appropriate business structures. Answers will be used more than once.

Question

This business structure is owned by a single person.

A business that is established as a legal entity, separate from the owners themselves.

A con of this business structure is that managers do not earn wages.

A pro of this business structure is that managers cannot be sued since the company is its own entity.

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 conflict between owners can often arise.

This business structure is owned by two or more individuals.

In this business, one person can keep all the profits.

answers are partnership corporation sole proprietorship limited liability corporation

Answer 1

Here are the definitions matched to the appropriate business structures:

1. This business structure is owned by a single person.

   • Sole proprietorship

2. A business that is established as a legal entity, separate from the owners themselves.

   • Corporation

3. A con of this business structure is that managers do not earn wages.

   • Sole proprietorship

4. A pro of this business structure is that managers cannot be sued since the company is its own entity.

   • Corporation

5. A hybrid form of business structure that combines the benefits of both a corporation and a partnership.

   • Limited liability corporation (LLC)

6. A con of this business structure is that conflict between owners can often arise.

   • Partnership

7. This business structure is owned by two or more individuals.

   • Partnership

8. In this business, one person can keep all the profits.

   • Sole proprietorship