Select the business structure(s) that is (are) described by the following features. An answer may be selected once, more than once, or not at all. Some features may have more than one selection. Only FULL credit will be given when you select ALL the selections that apply to a feature.

For example, if the correct answer is A and B to a feature:

• You will be given full credit if you answer A and B.
• You will be given only partial credit if you answer A.
• You will be given only partial credit if you answer B.
• You will be given only partial credit if you answer A and C, or B and C, or A, B and C, since C is an incorrect answer

1. Corporation
2. Partnership
3. Sole Proprietorship

1. The business structure does not pay corporate taxes.
2. All owners of the business structure have limited Liability.
3. The business structures continuity is tied to the owner(s) life expectancy.
4. There is usually limited access to money to finance the business structure.
5. It is legally easy to transfer ownership from one party to another in this business structure.

6. It is inexpensive to form this business structure.