Homework Answers
| a. | corporation (since it has a separate identity and is paying business income tax) |
| b. | partnership (since partners are jointly liable) |
| c. | sole proprietorship (since one owner who is personally liable) |
| d. | corporation (indefinite life and pays business income tax) |
| e. | sole proprietorship (no separate identity and only one person owns it) |
| f. | corporation (since it pays business income tax) |
| g. | Limited liability company (has indefinite life, but does not pay additional business tax) |
| h. | sole proprietorship (sole owner and personally liable for the debt) |
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Exercise 1-6 Distinguishing business organizations LO C4 Consider the following separate situations, identify each as being...
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