Discussion Question 13-26 (LO. 5) 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 partnership S Applies to S corporation C Applies to C corporation The basis for an ownership interest is: Increased by an investment by the owner Decreased by a distribution to the owner Increased by entity profits Decreased by entity losses Increased as the entity's liabilities increase Decreased as the entity's liabilities decrease a. b. c. d. e. f