The Characteristics Below Apply to at Least One of the Forms

question 25

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 separately 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.
$$\begin{array} { | l | l | l | l | } \hline & \text { Proprietorship } & \text { Partnership } & \text { Corporation } \\\hline \text { a. } & & & \\\hline \text { b. } & & & \\\hline \text { c. } & & & \\\hline \text { d. } & & & \\\hline \text { e. } & & & \\\hline \text { f. } & & & \\\hline \text { g. } & & & \\\hline\end{array}$$

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Definitions:

Strong-minded Leader

A leader who possesses unwavering determination, confidence, and the ability to stick to their principles and decisions, even under pressure.

Cohesive Groups

Teams or collectives characterized by strong bonds among members, leading to a high level of loyalty, unity, and commitment towards the group's objectives.

Groupthink

A psychological phenomenon in highly cohesive groups, where the desire for harmony and conformity results in irrational or dysfunctional decision-making outcomes.

Introducing New Topics

The act of bringing new subjects or areas of discussion into a conversation or debate.