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Complete the following table with either a yes or no regarding the attributes of a proprietorship. partnership, corporation, Can someone please help me im lost
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Answer #1

Attribute present

proprietorship

partnership

Corporation

LLC

1

Business taxed

No

No

Yes

No

2

Unlimited life

No

No

Yes

Yes

3

One owner allowed

Yes

No

Yes

Yes

The profit or loss of LLC is transferred to its members and thus partners include profit and loss in their tax return. LLC has unlimited life and it can be formed by one member also.

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