Using the legend provided, indicate which form of business entity each of the following characteristics describes. Some

Question:

Using the legend provided, indicate which form of business entity each of the following characteristics describes. Some of the characteristics may apply to more than one form of business entity.
Legend
P = Applies to and LLC
S = Applies to S = Applies to C Basis for an ownership interest is increased by an investment by the owner.
b. Basis for an ownership interest is decreased by a to the owner.
c. Basis for an ownership interest is increased by entity profits.
d. Basis for an ownership interest is decreased by entity losses.
e. Basis for an ownership interest is increased as the entity’s liabilities increase.
f. Basis for an ownership interest is decreased as the entity’s liabilities decrease.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most... Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...