Next to each corporate characteristic 1 through 8, enter the letter of the description that best relates to it. 1. Owner authority and control 2. Ease of formation 3. Transferability of ownership 4. Ability to raise large capital amounts 5. Duration of life 6. Owner liability 7. Legal status 8. Tax status of income a. Requires government approval b. Corporate income is taxed c. Separate legal entity d. Readily transferred e. One vote per share f. High ability g. Unlimited h. Limited

Question

Next to each corporate characteristic 1 through 8, enter the letter of the description that best relates to it.
1. Owner authority and control
2. Ease of formation
3. Transferability of ownership
4. Ability to raise large capital amounts
5. Duration of life
6. Owner liability
7. Legal status
8. Tax status of income
a. Requires government approval
b. Corporate income is taxed
c. Separate legal entity
d. Readily transferred
e. One vote per share
f. High ability
g. Unlimited
h. Limited

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