You come across different kinds of businesses every day. the following table describes some businesses. using the description of each business, classify it as a proprietorship, a corporation, or a limited liability company/limited liability partnership.
a. tyler, the ceo of a beverage company, is required to file the company's quarterly and annual employment, financial and tax reports with the state and federal authorities.
b. michael founded an operated a wedding planning agency, which specialized in celebrity weddings. when he dies, his business was dissolved because there was no plan for control after his death.
c. jackson started a business, based in a different state, with his uncle. due to the business's underperformance, they had to close the business. jackson, however, ended up losing his hourse due to a litigation claim.
d. tyler, jackson and jose own an accounting firm in san francisco. all share in the profits of the firm proportionately and file taxes at an individual level. according to their agreement, none of the owners will be held personally liable for the accounting firm's debt.