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#3 Identify (by letter) each of the following characteristics as being an advantage, a disadvantage, or not applicable to the corporate form of business organization. A Advantage D - Disadvantage N Not Applicable Characteristics A 1. Separate legal entity 2. Taxable entity resulting in additional taxes 3. Continuous life N 4: Unlimited liability of owners 5. Government regulation 6. Separation of ownership and management 7. Ability to acquire capital A 8. Ease of transfer of ownership