Question

matching
sole proprietorship
partnership
corporation
limited partnership
limited liability company
debt
liability
franchise

1. has one general partner who is fully responsible for the business and then another partner/s who are passive and do not participate in day - to - day functions of running the business, but they have invested in the business.
2. many owners but when the owners change, the company does not dissolve. the owners are also known as the shareholders. they then elect a board of people to make company policies, decisions, etc.
3. a business owned by one person.
4. something owed, usually money.
5. a type of business ownership where there can be a single or multiple owners, like a partnership, but you have an option to be taxed like a corporation.
6. two or more people operating a business as co - owners, who share all profits.
7. is being legally responsible for something.
8. is a business that was created for expanding an original business, but opening it in a new location, and where you are required to sell goods and services a certain way.

Explanation:

1. A limited partnership has one general partner (fully responsible) and limited partners (passive investors).
2. A corporation has many owners (shareholders), and ownership change doesn't dissolve it. Shareholders elect a board.
3. A sole proprietorship is owned by one person.
4. Debt is something owed, usually money.
5. A limited liability company (LLC) can have single/multiple owners and has tax - corporation option.
6. A partnership is two + people as co - owners sharing profits.
7. Liability is legal responsibility.
8. A franchise is a business for expanding an original business in a new location with specific goods/services sale requirements.

Answer:

1. Limited Partnership
2. Corporation
3. Sole Proprietorship
4. Debt
5. Limited Liability Company
6. Partnership
7. Liability
8. Franchise