Each owner of the Swift Bakery pays taxes on her/her share of the firm's net income and may be held personally liable for the firm's debts. The Swift Family Bakery is a
A) sole proprietorship
B) partnership
C) corporation
D) LLC
E) either a or b.

Question

Quizplus · Accepted Answer

The description matches a partnership, where owners (partners) pay taxes on their individual shares of the firm's net income and have personal liability for the firm's debts.

Each Owner of the Swift Bakery Pays Taxes on Her/her