Indicate whether each statement below applies to a sole proprietorship, a partnership, or a corporation.

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Part 1

a.

The life of the business is limited by the death of the owner.

b.

Each owner is personally liable for claims against the business.

c.

A business that has only one owner and "he or she is the business."

d.

Owners are not personally liable for claims against the business.

e.

The form of business that is typically used by accountants and lawyers.

f.

Canadian Tire and TELUS are examples of this form of business.