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  1. business
  2. accounting
  3. consider the following separate situations, identi

Consider the following separate situations, identify each as being a sole proprietorship, partnership, corporation, or...

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Accounting

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Consider the following separate situations, identify each as being a sole proprietorship, partnership, corporation, or limited liability company. Business Organization Description IBC Services does not have separate legal existence apart from the one person who owns it. . 21 b AJ Company pays a business income tax and has two owners. Sansa and John own Snow Removal Services. The business does not pay an additional business income tax and the business has an indefinite life C. d. Miguel is the sole owner of Derr Homes. Miguel is personally liable for Derr Home's debt. e. Jeffy Auto is a separate legal entity from its owner, but it does not pay a business income tax. f. Raymond and Amy own Security Services. The business is not a separate legal entity g Trent Company is owned by Trent Malone, who is personally liable for the company's debts. Riley and Kay own Speedy Packages, a courier service. Both are personally liable for the debts of the business, h

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