Indicate whether each statement below applies to a sole proprietorship, partnership, or corporation. More than one answer may be appropriate. a. Simple to establish. b. Shared control. c. Easy to transfer ownership. d. No personal liability. e. Tax advantage. f. Easier to raise funds.

. Simple to establish - sole proprietorship and partnership

b. Shared control - partnership

c. Easy to transfer ownership - Corporation

d. No personal liability - Corporation

e. Tax advantage - sole proprietorship and partnership

f. Easier to raise funds - Corporation

Explanation:

Sole proprietorship is a one man's business. It is the oldest form of business known. It is easy to establish.

Partnership is an agreement between two or more people to go into a business. The participants are known as partners.

Corporation is a legal entity that is separate and distinct from its owners. The are owned by group of people larger than partnership. The owners are known as shareholders.

a. Simple to establish - sole proprietorship and partnership

b. Shared control - partnership

c. Easy to transfer ownership - Corporation

d. No personal liability - Corporation

e. Tax advantage - sole proprietorship and partnership

f. Easier to raise funds - Corporation

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