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Determine whether the description refers to a sole proprietorship, patnership, or corporation.

Owner of Spirit Company is divided into 1,000 shares of stock
answer: sole proprietorship

Delta is owned by Sarah Gomez, who is personally liable for the debts of the business.
answer: corporation

Jo Chen and Al Fitch own Financial Services, a financial services provider. Neither Chen or Fitch has personal responsibilty for the debts of Financial Services.
answer: patnership

Tampa Biz pays it owns income taxes and has two owners
answer: corporation

BioProducts does not pay income taxes and has one owner
answer: sole proprietorship

XLT Services does not have separate legal existence apart from the one person who owns it.
answer: sole proprietorship

Sung Kwon ans Frank Heflin own Get-It-There, a courier service. Both are personally liable for the debts of the business.
answer: patnership

Spell Checked and Ready

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Determine whether the description refers to a sole proprietorship, partnership, or corporation.

Owner of Spirit Company is divided into 1,000 shares of stock

*Answer: Sole proprietorship

Delta is owned by Sarah Gomez, who is personally liable for the debts of the business.

*Answer: Corporation

Jo Chen and Al Fitch own Financial Services, a financial services provider. Neither Chen nor Fitch has personal responsibility for the debts of Financial Services.

*Answer: Partnership

Tampa Biz pays it owns income taxes and has two owners

*Answer: Corporation

BioProducts does not pay income taxes and has one owner

*Answer: Sole proprietorship

XLT Services does not have separate legal existence apart from the one person who owns it.

*Answer: Sole proprietorship

Sung Kwon and Frank Heflin own Get-It-There, a courier service. Both are personally liable for the debts of the business.

*Answer: Partnership


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GOOD LUCK

GOD BLESS YOU

Owner of Spirit Company is divided into 1,000 shares of stock
answer: corporation

Delta is owned by Sarah Gomez, who is personally liable for the debts of the business.
answer: sole proprietorship

Jo Chen and Al Fitch own Financial Services, a financial services provider. Neither Chen or Fitch has personal responsibilty for the debts of Financial Services.
answer: patnership

Tampa Biz pays it owns income taxes and has two owners
answer: partnership

BioProducts does not pay income taxes and has one owner
answer: sole proprietorship

XLT Services does not have separate legal existence apart from the one person who owns it.
answer: sole proprietorship

Sung Kwon ans Frank Heflin own Get-It-There, a courier service. Both are personally liable for the debts of the business.
answer: patnership

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