E1-2 Listed below are several statements regarding different forms of business organization. Instructions For each statement, indicate if that statement is true or false for each of the forms of business organiza- tions by placing a T or an F in each column. (a) Owners have limited liability. (b) Records of the business are combined with the personal records of the owner or owners. (c) Required to follow IFRS. (d) Entity pays income taxes on its profits. (e) Owners are called "shareholders." (f) Will have more than one owner. (g) Entity has a limited life. (h) The entity has a separate legal existence from its owners. Proprietorship Partnership Publicly Traded Corporation