Here’s the breakdown of the characteristics based on the descriptions provided:
-
There are 2 or more owners.
- General Partnership
-
There is 1 owner.
- Sole Proprietorship
-
Stocks may be issued to generate income.
- Corporation
-
There is unlimited liability.
- Sole Proprietorship
- General Partnership
So the characteristics can be summarized as follows:
- Sole Proprietorship: 1 owner, unlimited liability.
- General Partnership: 2 or more owners, unlimited liability.
- Corporation: Stocks may be issued to generate income.