Which of the Following Statements Is TRUE for a Proprietorship

question 113

Multiple Choice

Which of the following statements is TRUE for a proprietorship?

• A)Legally,a proprietorship is separate from the proprietor.
• B)For accounting purposes,a proprietorship is separate from the proprietor.
• C)The business records include the proprietor's personal finances.
• D)All statements are correct.

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Definitions:

Multiply

The operation of repeated addition of the same number.

Imaginary Unit

A mathematical concept, denoted as 'i', defined as the square root of -1 and used to extend the real numbers to complex numbers.

Standard Form

A way of writing numbers, particularly equations, in a specific and universally acknowledged structure, such as Ax + By = C for linear equations.

Imaginary Unit

A mathematical constant represented by \(i\), defined as the square root of -1, which is the basis for complex numbers.