I. Fill in the blanks. 1. person. is a business form owned and operated by a single 2. The firm can start to exist after the sole owner has resolved to start operating and after getting the 3. The sole proprietorship has the advantage of because he is not required by law to share information with anyone. 4. The sole proprietor has the disadvantage of liability. 5. A is a legal association of two or more persons as co-owners of an unincorporated business. 6. Hiring new employees is one area for potential between partners. 7. A partnership is an association of two or more persons each with unlimited liability, and who are actively involved in the business. 8. Stockholders are the owners of a 9. A stockholder may terminate his ownership status by his shares to another person. 10. A corporation may start operation after the Securities and Exchange Com- mission has issued aI. Fill in the blanks before each item in column A with the corresponding letters column B. B A 1. sole proprietorship A. a potential area for disagree. ment between partners 2. if firm makes large profits B. an advantage of corporations 3. limited life of the firm C. certificates of ownership of a corporation 4. decision on credit D. is contained in the articles extensions of incorporation 5. ease of expansion E. relationship between the corporation and the employer 6. partnership agreement F. more expensive and complicated to organize 7. stocks G. document designed to minimize disagreements between partners 8. specific purpose H. sole prorietor is the sole beneficiary 9. too impersonal I. a disadvantage of sole proprietorship 10. corporations J. business owned by one person