3. Matching: Match these characteristics to their business form(s)/structure(s). Write the corresponding uppercase letter or letters on the line(s). The number of blanks correspond to the number of letters that apply to that characteristic, use only one letter per blank (1 points per blank- 25 total) Owned by a singled individual Owned by two or more people (not called A. Sole Proprietorship B. General Partnership C. C Corporation D. S Corporation a. shareholders) Owned by shareholders _Proprietors) has full liability for business debts. Creditors can come after personal assets to pay back business debt Pays income taxes at E. Limited Liability Companies individual rates f. -A separate legal entity Con of double taxation h. Owners of the business are not personally liable for business obligations (like debt- unless they cosign on a note) Business can terminate upon death of ty. an owner, There are issues with business continui Files a full tax return (that is not an informational tax return) Business continues forever Business life can be determined by an agreement