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Explain the difference between proprietorships, partnership, andcorporations based on owners, life of the organization,...

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Accounting

Explain the difference between proprietorships, partnership, andcorporations based on owners, life of the organization, liabilityof owners, and legal status?

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The differences are discussed below 1 Owners A proprietorship has only one owner who is called the sole proprietor A partnership firm has got two or more than two owners These owners are called partners An S corporation can have up to 75 owners while an LLC can have an unlimited number of owners The owners in a corporation are called shareholders 2 Life of the organization The    See Answer
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In: AccountingExplain the difference between proprietorships, partnership, andcorporations based on owners, life of the organization, liability...Explain the difference between proprietorships, partnership, andcorporations based on owners, life of the organization, liabilityof owners, and legal status?

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