Which of the following statements about a sole proprietorship is FALSE?
A) It is relatively easy to start a business that is organized as a sole proprietorship.
B) The owner of a sole proprietorship can act relatively independently when making decisions.
C) A sole proprietor can raise money by borrowing from financial institutions, issuing stocks, and issuing bonds.
D) Courts may take a sole proprietor's personal assets to pay the business' debts if the business does not have the funds to pay them directly.
Correct Answer:
Verified
Q63: In order to operate, a business must
Q64: Difficulty in raising large amounts of funds
Q65: A proprietorship is a:
A) legal entity with
Q66: A sole proprietorship can raise money for
Q67: Unlimited liability is a risk faced by:
A)
Q69: When a partnership goes into default:
A) each
Q70: In a partnership:
A) the partner designated as
Q71: A general partner in a partnership:
A) cannot
Q72: A partnership is similar to a sole
Q73: A business can continue on indefinitely if
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