Determine whether each characteristic describes a sole proprietorship, a general proprietorship, or a corporation. Note that a characteristic may apply to more than one type of business structure.

Question

There is unlimited liability.
There are 2 or more owners.
There is 1 owner.
Stocks may be issued to generate income.

Answer 1

There is unlimited liability: Sole proprietorship, General partnership, Corporation
There are 2 or more owners: General partnership, Corporation
There is 1 owner: Sole proprietorship
Stocks may be issued to generate income: Corporation