Identifying types of business organizations Chloe Michaels plans on opening Chloe Michaels Floral Designs. She is considering the various types of business organizations and wishes to organize her business with unlimited life and wants owners of the business to not be held personally liable for the business’s debts. Additionally, Chloe wants the business to be a separate taxable entity. Which type of business organization will meet Chloe’s needs best?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Identifying types of business organizations

Chloe Michaels plans on opening Chloe Michaels Floral Designs. She is considering the various types of business organizations and wishes to organize her business with unlimited life and wants owners of the business to not be held personally liable for the business’s debts. Additionally, Chloe wants the business to be a separate taxable entity. Which type of business organization will meet Chloe’s needs best?

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