Which one of the following statements is NOT true?
A) A sole proprietorship is the least expensive type of business to start.
B) The life of a sole proprietorship is unlimited
C) Sole proprietorships must rely on equity contributions from the proprietor and debt or lease financing.
D) All profits of the sole proprietorship pass directly to the owner and are taxed at the owner's marginal tax rate.
Correct Answer:
Verified
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