Listed below are several statements regarding different forms of business organization. For each statement, indicate if that statement is true or false for each column.

			Proprietorship		Partnership		Publicly Traded Corporation
(a)		Owners have limited liability.	select an option TrueFalse		select an option TrueFalse		select an option TrueFalse
(b)		Records of the business are combined with the personal records of the owner or owners.	select an option TrueFalse		select an option TrueFalse		select an option TrueFalse
(c)		Required to follow IFRS.	select an option TrueFalse		select an option TrueFalse		select an option TrueFalse
(d)		Pays income taxes on its profits.	select an option TrueFalse		select an option TrueFalse		select an option TrueFalse
(e)		Owners are called "shareholders."	select an option TrueFalse		select an option TrueFalse		select an option TrueFalse
(f)		Will have more than one owner.	select an option TrueFalse		select an option TrueFalse		select an option TrueFalse
(g)		Has a limited life.	select an option TrueFalse		select an option TrueFalse		select an option TrueFalse
(h)		Has a separate legal existence from its owners.