lity Co r y (LLC), and limited liability Businesses can be classified into the following forms: sole proprietorship, partnership, corporation mita partnership (LP). limited liability company and a Different forms of businesses have different characteristics. Which of the following characteristics would apply to limited liability partnership? Check all that apply. Owned by single individual Owners have limited liability and right to vote LLPs are not suitable for professional firms such as accounting, law, and architecture Have corporate ownership structure Tasced as a partnership Limited financial liability 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 Type of Business Business Scenario Jacob founded and operated a wedding planning agency, which specialized in celebrity weddings. When he died, his business was dissolved because there was no plan for control after his death. Wilson started a business, based in a different state, with his uncle. Due to the business's underperformance, they had to close the business, Wilson, however, ended up losing his house due to a litigation claim. DDX Co. is a shipping company. David owned 1,000 shares of DDX stock. He found better opportunities and sold his entire stake in Dox to another investor Selena and Mario run lave firm in Chicago. The firm has debt of $100,000, but Selena and Mano will not be held personally able for the law firm's debt