Which one of the following statements concerning a sole proprietorship is correct?
A) The life of the firm is limited to the life span of the owner.
B) The owner can generally raise large sums of capital quite easily.
C) A formal charter is required to form a new proprietorship.
D) The company must pay separate taxes from those paid by the owner.
E) The legal costs to form a sole proprietorship are quite substantial.
Correct Answer:
Verified
Q4: Which form(s)of business is a treated as
Q5: Short-term finance
A)ensures sufficient equipment is available to
Q6: Sole proprietorships
A)are expensive to set up.
B)create unlimited
Q7: The key difference between the responsibilities of
Q8: The treasurer and the controller of a
Q10: Capital structure refers to the
A)determination of the
Q11: Which one of these is an intangible
Q12: The division of profits and losses among
Q13: A business entity formed by two or
Q14: Which type of business is the easiest
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