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Determine whether each description best refers to a sole proprietorship, partnership, corporation, or limited liability company (LLC). Description a. Raymond and Amy own Security
Determine whether each description best refers to a sole proprietorship, partnership, corporation, or limited liability company (LLC). Description a. Raymond and Amy own Security Services. The business is not a separate legal entity. b. Riley and Kay own Speedy Packages, a courier service. Both are personally liable for the debts of the business c. Sansa and John own Snow Removal Services. The business does not pay an additional business income tax and the business has an indefinite life. d. Lannister owns Wealth Management. The business is a separate legal entity and pays an additional business income tax. e. Ownership of Zander Company is divided into 1,000 shares of stock. The company pays a business income tax. Russell is the sole owner of Wilson Sports. The business is not a separate legal entity from Russell and the business ends with his death. g. Trent Company is owned by Trent Malone, who is personally liable for the company's debts. h. Miguel is the sole owner of Derr Homes. Miguel is personally liable for Derr Home's debt. Business Organization
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