QUESTION 8 One of these is not characteristic of proprietorship company. Often is small service business. O a Owned by one person. Ob Owner not receive all profit while he suffers all loss. None of above. Od QUESTION 10 Incurred utility expenses that will be paid next month. This will have the following effects on the components of the basic accounting equation increase liabilities and decrease owner's equity On Ob increase assets and decrease owner's equity increase assets and increase liabilities increase assets and increase owner's equity Od