Match the words with the descriptions.

Question

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)

Answer 1

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)