Identify the form of business organization(s)to which the following characteristics apply.
(a)Is a separate business entity.
(b)Can be owned by one person.
(c)Owner or owners are personally liable for debts of the business.
(d)Is a taxable entity.
(e)Is created by a charter from a provincial or the federal government.
(f)Keeps the accounting of its transactions separate from the owner's(s')personal transactions.
(g)May have a contract specifying the division of profits among the owners.
(h)Owner or owners are not personally liable for debts of the business.
Use the following format to indicate whether or not a characteristic applies to each type of business organization.

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The Answer of Identify the form of business organization(s)to which the following characteristics apply.
(a)Is a separate business entity.
(b)Can be owned by one person.
(c)Owner or owners are personally liable for debts of the business.
(d)Is a taxable entity.
(e)Is created by a charter from a provincial or the federal government.
(f)Keeps the accounting of its transactions separate from the owner's(s')personal transactions.
(g)May have a contract specifying the division of profits among the owners.
(h)Owner or owners are not personally liable for debts of the business.
Use the following format to indicate whether or not a characteristic applies to each type of business organization.

Identify the Form of Business Organization(s)to Which the Following Characteristics