BE1-3 Match each of the following forms of business organization with the correct set of characteristics: proprietorship (PP), partnership (P), and corporation (C). (a) (b) (c) Shared control; combined skills and resources Easier to transfer ownership and raise funds; no personal liability; entity pays income tax Simple to set up; founder keeps control BE1-4 For each of the following statements, indicate whether the statement is true or false by placing a T or an F in the blank at the start of each statement. (a) (b) 399 (d) Canadian publicly accountable enterprises have the choice to report under IFRS or ASPE. All private enterprises must follow ASPE. There are more requirements to provide information in the financial statements under ASPE than under IFRS. Companies are required to include a note in their financial statements stating if they are using IFRS or ASPE. Using IFRS may help Canadian public companies attract investors from around the globe.