1 9 12 15 18 21 241 27 30 33 36 39 Question 1 (Mandatory) (2.5 points) The proprietorship form of business organization I must have at least two owners in most states. generally receives favorable tax treatment relative to a corporation. O combines the records of the business with the personal records of the owner. is classified as a separate legal entity. Question 2 (Mandatory) (2.5 points) A business organized as a corporation is not a separate legal entity in most states. requires that stockholders be personally liable for the debts of the business. is owned by its stockholders. has tax advantages over a proprietorship or partnership. Question 3 (Mandatory) (2.5 points) A business organized as a separate legal entity is a corporation. proprietor. Ogovernment unit. Opartnership. Question 4 (Mandatory) (2.5 points) An advantage of the corporate form of business is that it has limited life. its owner's personal resources are at stake. its ownership is easily transferable via the sale of shares of stock. it is simple to establish.