BUSINESS ADMINISTRATION
FINANCIAL ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which type of business organisation has the following characteristics?-conducts business separate from its owners-the owners have limited liability-the organisation is a taxable entity
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Sole trader
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Partnership
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Company/corporation
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None of the above
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Explanation:
Detailed explanation-1: -Limited Liability Company (LLC) An LLC is a hybrid between a partnership and a corporation. Members of an LLC have operational flexibility and income benefits similar to a partnership but also have limited liability exposure.
Detailed explanation-2: -There are three common types of businesses-sole proprietorship, partnership, and corporation-and each comes with its own set of advantages and disadvantages.
Detailed explanation-3: -Corporations are owned by shareholders who invest money in the business by buying shares of stock . The portion of the corporation they own depends on the percentage of stock they hold.
There is 1 question to complete.