The Characteristics Below Apply to at Least One of the Forms

question 182

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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 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.

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Definitions:

Impasse

A deadlock or stalemate situation where parties involved in a negotiation or discussion are unable to move forward to reach an agreement.

Intensifies

To become or make more intense, amplifying the strength or seriousness of something.

Constructive

Relating to or characterized by building up, improving, or contributing positively to something.

Significant

Having a particularly important, notable, or consequential value or impact.