Discussion
1. Briefly define what makes each of the following entities different from each other and what the advantages might be for each: sole proprietorship, general partnership, limited partnership, and limited liability partnership (LLP).
2. What are the major differences between a corporation and a limited liability corporation (LLC)? Why do you believe governing bodies have chosen to create the two different entities?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.