Which One of the Following Statements Concerning a Proprietorship Is

question 222

Multiple Choice

Which one of the following statements concerning a proprietorship is true?

• A) A proprietorship can be a business jointly owned by two family members.
• B) Income from a proprietorship is taxed as a separate entity.
• C) A proprietor is personally responsible for 100% of the firm's liabilities.
• D) A partial transfer of ownership is easier with a proprietorship than with a corporation.
• E) Income from a proprietorship is taxed at a lower rate than other personal income.

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