Question 1 [5 points] Descriptions of several different business organizations are given below: Determine what type of organization the station described refers to (sole proprietorshie partnership or corporation) Click the space to the left of the description to select the type of business organization Organization Type Description a) Pace Design has one owner and does not pay taxes Corporation Partnership b) The owners of XYZ Co. are considered to be separate legal entes from the company (Select One) The owners of Beamer Co are legally distinct from the business (Select One) SouthCo does not pay its own taxes, the three owners pay taxes on the income eamed by the company (Select One) The assets held by XYZ Co. were contributed by several shareholders SAVE AND CLOSE C dj ej