. Cloze Read the following passage and fill the blanks with appropriate words from the list. Note that there are more words in the list than blanks in the passage. assume better complementary derive dissolve enhanced form general heavy light limited major management minor obligations operations organization owner partnership performance ownership responsible secrecy size success supplementary team therefore who whose Of the three most basic forms of business 1 , the sole proprietorship is the easiest to start or to 2 . Its advantages include the fact that the 3 can keep all the profits, has freedom in business 4 and keep them in 5 . The owner can also 6 personal satisfaction if the business is a 7 . On the other hand, a sole proprietorship has limitation in terms of the 8 and the life of the life of the business, and the owner must 9 unlimited liability for all 10 . In a partnership, the members fall into basically two types: 11 partners, who manage the firm and 12 have unlimited liability, and limited partners, 13 liability is confined to their investment in the 14 . Compared with sole proprietorships, partnerships have 15 access to capital and credit. Their 16 can also improve because the partners often have diverse and 17 experiences and educational background. The major disadvantage is that the general partners are 18 for all obligations of the firm. Nowadays, the 19 business organizations mostly take the 20 of corporation, because its owners all assume 21 liability and the separation of 22 and management can greatly improve such organizations’ 23 . By issuing stocks, their ability to raise capital is greatly 24 . However, corporations also have problems, the major ones being 25 taxation, lack of business secrecy and strict government regulations.