Across
- 3. A company whose owners and managers have limited liability and some tax benefits, but avoids some restrictions associated with Subchapter S corporations
- 6. Insurance against debt and actions of a business
- 7. An unincorporated business with two or more owners who share the decisions, assets, liabilities, and profits
- 8. An owner of shares of stock in a corporation
- 9. An entity that pays taxes on earnings; its shareholders pay taxes as well
- 10. A participant in a partnership who has unlimited personal liability and takes full responsibility for managing the business
- 12. A business that is owned and operated by one person
Down
- 1. A corporation that is taxed like a partnership; profits are taxed only once at the shareholder's personal tax rate
- 2. A legal entity that makes money for reasons other than owner's profit
- 4. Partial responsibility of a corporate shareholder; he/she is responsible only up to the amount of the individual investment
- 5. Full responsibility for all debts and actions of a business
- 9. A business that is regulated by a state and operates apart from its owners.
- 11. A partner in a business whose liability is limited to their investment