The Characteristics Below Apply to at Least One of the Forms

Essay

The characteristics below apply to at least one of the forms of business organization.
a.Is a separate legal entity?
b.Is allowed to be owned by one person only?
c.Owner or owners are personally liable for debts of the business.
d.Is a taxable entity?
e.Is a business entity?
f.May have a contract specifying the division of profits among the owners?
g.Has an unlimited life.
Use the following format to indicate (with a yes or no)whether or not a characteristic applies to each type of business organization.
$$\begin{array} { | l | l | l | l | } \hline & \text { Proprietorship } & \text { Partnership } & \text { Corporation } \\\hline \text { a } & & & \\\hline \text { b } & & & \\\hline \text { c } & & & \\\hline \text { d } & & & \\\hline \text { e } & & & \\\hline \text { f } & & & \\\hline \text { g } & & & \\\hline\end{array}$$