4. Forms of business organizations Businesses can be classified into the following formst sole proprietorship, partnership, corporation, limited liability company (UC), and fimited fiability partnership (UP). Different forms of businesses have different characteristics. Which of the following characteristics would apply to a limited liablity company and a limited liability partnership? Check all that apply. Owners have limited liability and right to vote Owned by single individual UPs are not suitable for professional firms such as accounting, law, and architecture Have corporate ownership structure Taxed as a partnership Limited financial Eability You come across different kinds of businesses every day. The following table describes some businesses, Using the description of each business, classify it as a sole proprietorship, a partnership, a corporation, or a limited liability company/limited liability partnership. 2. options Sole proprictorshi? purtonsip corpor-lion LLA LLP