Complete the following table with either a yes or no regarding the attributes of a proprietorship, partnership, corporation, and limited liability company (LLC). Attribute Present Proprietorship Partnership Corporation LLC 1. Limited liability 2. Business entity 3. Legal entity
Complete the following table with either a yes or no regarding the attributes of a proprietorship, partnership, corporation, and limited liability company (LLC). Attribute Present Proprietorship Partnership Corporation LLC 1. Limited liability 2. Business entity 3. Legal entity
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Complete the following table with either a yes or no regarding the attributes of a proprietorship, partnership, corporation, and limited
liability company (LLC).
Attribute Present
Proprietorship Partnership
Corporation
LLC
1. Limited liability
2. Business entity
3. Legal entity
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Expert Solution

Step 1
Proprietorship is usually owned by a single individual wherein the obligation is unlimited.
Partnership is a business firm which is being operated by two or more individuals called partners.
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