Imagine a business that you could hypothetically start.

1 .Which business ownership structure (LLC, General Partnership, Limited Partnership, S-Corp, C-Corp) would you select? Why?

2. What are the advantages that you see with the particular business ownership structure that you chose?

3. Are there any disadvantages?

4. Why do you think the business ownership structure that you chose is better than other corporate structures?

In 250-500 words

Define the partnership form of business organization. What are its advantages and disadvantages?

Partnerships refer to more than one owner. A limited partnership ______________.
a) consists of general partners and limited partners, at least one of each
b) is a shadow firm for a much larger corporation. It is like a shell company to dispose of risky assets
c) is taxed similar to a corporation, whereas a general partnership is taxed like a sole proprietorship
d) is limited by the number of partners allowed. There can only be a total of 10 partners actively involved in the business