Other Objective Questions Indicate by a PRP If the Characteristic Applies to a Applies

Short Answer

Other Objective Questions
Indicate by a PRP if the characteristic applies to a sole proprietorship, an SC if it applies to an S corporation, and a PAR if it applies to a partnership, and N if it does not apply to any of the three businesses. A characteristic can apply to more than one entity; write a brief explanation if a characteristic may only apply under certain conditions.
-Gain recognized by owners on liquidation of entity.