For Each of the Following Characteristics of a Business Organization,state

question 1

Essay

For each of the following characteristics of a business organization,state whether it applies to a sole proprietorship (SP),partnership (P)or a corporation (C).There may be more than one correct answer for a characteristic.
$\begin{array}{|l|l|}\hline\text { Business organization } & \text { Entity(ies) to which the } \\\text { characteristic } & \text { characteristic applies - } \\& \text { SP, P, C } \\ \hline\text { Separate legal entity } & \\\hline \text { Owner(s) are personally } & \\\text { liable for the business's debts } & \\\hline \text { Separate taxable entity } & \\\hline \text { One owner } &\\\hline\end{array}$

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Definitions:

Virtue

A characteristic or attribute considered to possess moral goodness, and therefore, is appreciated as a cornerstone of a virtuous character.

Erikson

A psychologist best known for his theory on the psychosocial development of human beings, emphasizing eight stages from infancy to adulthood.

Integrity

The quality of being honest and having strong moral principles; moral uprightness.

Coping

Adaptive thinking or behavior aimed at reducing or relieving stress that arises from harmful, threatening, or challenging conditions.