For each of the following independent statements, indicate whether the tax is applicable to partnerships (P), S Corporations (S), both partnerships and S Corporations (B), or neither business form (N).

1. Flow-through to owners of net operating losses.
2. Flow-through to owners of net capital losses.
3. Unrestricted selection of taxable year.
4. An increase in the organization's trade account payables will increase the tax basis of the owner's interests.
5. An owner's share of losses in excess of tax basis can be carried forward indefinitely.
6. A nonliquidating distribution of appreciated property is generally not taxable to the owners.
7. Income retained in the business will not be taxed to the owners until distributed to them.
8. Organizational costs can be amortized over a 180-month period.