Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1.All of the following are characteristics of a sole proprietorship except: a.a business owned by one person. b.owner has control of the business. c.a separate

1.All of the following are characteristics of a sole proprietorship except:

a.a business owned by one person.

b.owner has control of the business.

c.a separate legal entity.

d.small owner-operated business.

2.All of the following are characteristics of a corporation except:

a.a separate legal entity.

b.ownership evidenced by shares of stock.

c.produce eight times more revenue than sole proprietorships and partnerships in the United States.

d.owners have unlimited liability.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamental Managerial Accounting Concepts

Authors: Thomas Edmonds, Christopher Edmonds, Bor Yi Tsay, Philip Old

7th edition

978-0077632427, 77632427, 78025656, 978-0078025655

More Books

Students also viewed these Accounting questions

Question

What is a dummy variable?

Answered: 1 week ago

Question

600 lb 20 0.5 ft 30 30 5 ft

Answered: 1 week ago