Question $109(1$ point$)$

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Match the business structure to the correct definition.

Question $109$ options:

You are the sole owner of this company.

In this structure, the owner has little or no personal liability because it is a legal entity separate from its owners.

You have a contract with one or more others to run the business.

Some of the partners have less interest and less liability in the company.

A business under this structure will only be taxed on the personal level, so they do not pay tax on income from their daily operations.

A company structured so that you and the people who are forming the business with you have less liability for the actions of the company, including its debts.

$1.$

Sole proprietorship

$2.$

General Partnership

$3.$

Limited Partnership

$4.$

Limited Liability Company

$5.$

C Corporation

$6.$

S Corporation

Question $110(1$ point$)$

Question $110$ options:

$\_\_\_\_\_\_\_\_$ liability would cover you for errors and omissions for professional services, as well as failure to render professional services. This will also cover situations where a client sues for an injury they allege was caused by being trained incorrectly.

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