Which of the Following Statements Is True About a Sole

question 126

Multiple Choice

Which of the following statements is true about a sole proprietorship?

• A)The owner and the business are separate legal entities but not separate accounting entities.
• B)The owner and the business are separate accounting entities but not separate legal entities.
• C)The owner and the business are separate legal entities and separate accounting entities.
• D)Most large businesses in this country are organized as sole proprietorships.

---

Definitions:

Calculated

Determined or computed by using mathematical methods or processes to reach a numerical result.

Prescription Drugs

Medications that are legally available only with a valid prescription from a licensed healthcare provider.

Outside The United States

This term relates to activities, entities, or jurisdictions that are located beyond the territorial boundaries of the United States.

FDA

The Food and Drug Administration, an agency within the U.S. Department of Health and Human Services responsible for ensuring the safety and efficacy of human and veterinary drugs, biological products, medical devices, food, cosmetics, and products that emit radiation.