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.



There is 1 owner.



Stocks may be issued to generate income.



There is unlimited liability.

Answer 1

Here’s the breakdown of the characteristics based on the descriptions provided:

1. **There are 2 or more owners.**
- General Partnership

2. **There is 1 owner.**
- Sole Proprietorship

3. **Stocks may be issued to generate income.**
- Corporation

4. **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.