Indicate by letter whether each statement below applies to a sole proprietorship (S), partnership (P), or corporation (C). You may use more than one business organization for an answer. ________

a. Separate economic unit
________ b. Life limited by death of owner(s)
________ c. Separate legal entity
________ d. Unlimited liability of owner(s)
________ e. Separation of ownership and control
________ f. Transfer of ownership does not affect the continuity of business.
________ g. Ownership evidenced by stock certificates


a. S, P, C
b. S, P
c. C
d. S, P
e. C
f. C
g. C

Business

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