Match the characteristics of the 3 major types of business ownership under the appropriate heading. Three answers can be used twice.
Has limited life (2)
Is complex to set up
Has fewer skills to run business
Can sell stocks
Can sell bonds
Has unlimited liability (2)
Must share profits (2) Has unlimited life
Keeps all the profits
Has elected directors Has limited liability
Is viewed as a legal entity
Has profits taxed twice Has total control
Sole Proprietorship
Partnership
Corporation
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2.
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5.
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2.
3.
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2.
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9.