The Characteristics Below Apply to at Least One of the Forms

question 132

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

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Definitions:

Émile Durkheim

A founding figure in sociology, known for his work on social integration, religion, and theories on the collective conscience and anomie.

Anomic

Relating to anomie, a state or condition of individuals or society characterized by a breakdown or absence of social norms and values.

Company Cutbacks

A reduction in company expenses often achieved through layoffs, reduction in operational costs, or scaling back production to manage financial health.

Economic Inequalities

The unequal distribution of wealth, income, and resources among individuals or groups within a society or between countries.