4. Forma af business organtzatians AaAa Businesses can be classified into the following forms: proprietorship, partnership, corporation, limited liability company (LLc), and limited liability partnership (LLP). oifferent forms of businesses have different characteristics. which of the following characteristics belong to a limited iebility partnership? check all that apply profits taxed only at individual level, not at business level only general owners, not limited owners, allowed to participate n daily management of the firm Might be an S corporation You see and read about different kinds of businesses every day. The following soenarias desaribe two businesses. use the description of each business to classify it as a proprietorship, partnership, corporation, or limited liability partnership and/or limited liability company (LLP/LLC) Business #1 Business #2 christopher is self-employed and reports all of his business-related income and expenses on his personal tax return. DDX Co. is a short-haul trucking company. Salim owned 1,000 shares of DDX stock. with research, he found a better investment opportunity and sold his entire holding of DDX to another investor. This is an example of This is an example of: Q A corporation Q A proprietorship O A partnership O An LLP/LLC O A partnership O A corporation O An LLP/LLC O A proprietorship