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Indicate Whether Each Statement Below Applies to a Sole Proprietorship

Question 173

Matching

Indicate 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

Premises:
Separate economic unit
Life limited by death of owner(s)
Separate legal entity
Unlimited liability of owner(s)
Separation of ownership and control
Transfer of ownership does not affect the continuity of business.
Ownership evidenced by stock certificates
Responses:
sole proprietorship
partnership
corporation

Correct Answer:

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