Business Structure

4. Legal responsibility for debts or lawsuits
5. Owners are protected from losing personal assets
6. Organizations created to serve a public or social purpose
7. A business owned and operated by one person
9. A separate legal entity from its owners
10. A partnership where all partners have limited liability protection
12. Profits are taxed on the owners' personal tax returns
13. Profits are taxed at both the corporate and individual shareholder level
15. A partnership where all partners manage the business and share responsibility

1. Owners are personally responsible for all business debts
2. A traditional corporation taxed separately from its owners
3. People who own stock in a corporation
8. A corporation that avoids double taxation
10. A partnership with at least one general partner and one or more limited partners
11. A legal arrangement where assets are managed for another person or group
14. A business structure that combines features of partnerships and corporations