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Identify the Mismatched Pair

question 86

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Identify the mismatched pair.


Definitions:

Limited Liability Corporation

A company model that unites the advantage of pass-through taxation seen in sole proprietorships and partnerships with the limited liability protection offered by corporations.

Sole Proprietorship

A type of enterprise that is owned and run by one person, where there is no legal distinction between the owner and the business entity.

Tax Purposes

Considerations or actions taken to comply with tax laws or to optimize tax liabilities and benefits.

General Partnership

A business arrangement where two or more individuals share ownership, profits, and liabilities of a business.

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