13. Legal Forms of Business Ownership--Small Business Entrepreneurship
The legal form of business ownership in which owners have limited personal accountability for the debts and dealings of the company is called a _____.
limited liability company
The legal form of business ownership that is the newest is a _____.
limited liability company
The legal form of business ownership that is owned by two or more people is called a _____.
partnership
The legal form of business ownership where the owners share everything equally is called a _____.
partnership
The legal form of business ownership that is owned by one person is called a _____.
sole proprietorship
The legal form of business ownership that is the most common is called a _____.
sole proprietorship
Which legal forms of business ownership does the government have little control of?
sole proprietorship partnership
The legal form of business ownership that is also known as a separate entity is called a _____.
corporation
The legal form of business ownership that issues shares of stock is called a _____.
corporation
The legal form of business ownership that is owned by many people is called a _____.
Corporation