Select business type of characteristic? The three primary types of business organization are proprietorship, partnership, and corporation. Each type has characteristics that distinguish it from the other types. a.) Frequently uses legal agreements to define profit distribution for two or more owners. b.) Provides the best opportunity to benefit a few people. c.) Provides for easy transfer of ownership d.) Has multiple capital accounts but no retained earnings on its balance sheet e.) Has two or more owners that are not stockholders