Question

Determine whether each characteristic describes a sole proprietorship, a general partnership, or a corporation. Note that a characteristic may apply to more than one type of business structure.(2 points)
Sole Proprietorship General Partnership Corporation
There are 2 or more owners.



Stocks may be issued to generate income.



There is 1 owner.



There is unlimited liability.

Answer 1

Sole Proprietorship - There is 1 owner.
General Partnership - There are 2 or more owners.
Corporation - Stocks may be issued to generate income.
Sole Proprietorship and General Partnership - There is unlimited liability.