Top-level domains refer to the most authoritative suffixes of domain names. This includes domain names ending in .com, .org, or .com, as well as location-specific county code domain names like .au or .uk. Other examples of TLDs include .gov for government entities and .edu for educational institutions.
TLDs are always the best option for businesses. They establish trust and credibility, unlike less professional and commonplace domain name endings like .biz.
See also: ccTLD, Domain name
Further reading: How to Choose a Domain Name