Forms of Business OrganizationVersión en línea Determine whether the situation described refers to a sole proprietorship, partnership, or corporation. por nimmy sidhu 1 Sole Proprietorship 2 Partnership 3 Corporation Text Tech is owned by Kimberly Fisher, who is personally liable for the debts of the business. MRS Consulting Services does not have a separate legal existence apart from the one person who owns it. Biotech Company has one owner and does not pay taxes. Nancy Kerr and Frank Levens own Runners, a courier service. Both Kerr and Levens are personally liable for the debts of the business. You and your best friend decide to open a web design business together Ownership of Cola Company is divided into 1,000 shares. Jerry Forrentes and Susan Montgomery own Financial Services, a financial and personal services provider. Neither Forrentes nor Montgomery has personal responsibilities for the debts of Financial Services. Torby Technologies had two owners and pays its own taxes
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