Next to the following list of eight characteristics of business organizations, select a brief description of how each characteristic applies to corporations.

Next to the following list of eight characteristics of business organizations, select a brief description of how each characteristic applies to corporations. Characteristic Descriptions 1Owner liability 2. Tax status of income 3. Transferability of ownership 4 Ability to raise large capital amounts 5. Duration of life 6. Ease of formation 7. Legal status 8. Owner uthority and control Not liable for corporation actions or debt Taxed a second time on owner's personal return Easily bought and sold High ability Unlimited High ability Unlimited Requires government approval Separate legal entity One vote per share