Ex.9. Look through the text again and replace the words in bold with the linking words and phrases given below

In view of, first and foremost, besides, like, at the same time, obviously, to start with, since, it is a fact that..., in order to..., generally.

1. An entrepreneur may choose to incorporate his business so that he could prevent his creditors from pursuing his personal assets.

2. Shareholders have limited liability for the corporation’s debts. In general, they are accountable only for their investment in the stock of the company.

3. Considering various requirements, sole proprietorships, partnerships and corporations have their advantages and disadvantages.

4. A partnership pays only ordinary income tax because the co-owners use the profits gained as their personal income. Concurrently, they are jointly and individually liable for the actions of the other partners.

5. If we enumerate advantages of a sole proprietorship, more than anything else it is the easiest and least expensive form of ownership. In addition to this, it does not have to pay special taxes placed on corporations.

6. Clearly, corporations have a number of disadvantages. In the first place, the process of incorporation is costly and time-consuming.

7. Similar to proprietorships, in partnerships the law does not distinguish between the business and its owners.

8. It is well known that a lot of partnerships are dissolved at crisis times.