Which One of the Following Statements Is Correct with Respect

question 62

Multiple Choice

Which one of the following statements is correct with respect to sole proprietorships?

• A) The sole proprietor has limited liability.
• B) The sole proprietor need not adhere to any licensing and government regulations.
• C) The sole proprietor must consult with the other owners before making any major decisions regarding the business.
• D) The sole proprietor has the same extent of liability as a shareholder.
• E) The sole proprietor is responsible for the torts committed by an employee that take place during the course of business.

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Definitions:

Third Quartile

The value that divides the top 25% of a data set from the bottom 75%, often used as a measure of data spread.

Quartile

A type of quantile which divides the range of a probability distribution into four intervals of equal probability, used in describing the spread of a dataset.

GMT

Greenwich Mean Time, the mean solar time at the Prime Meridian in Greenwich, London, used as a global time standard.

Templates

Pre-designed formats or frameworks used to streamline the creation of documents, presentations, or systems within various projects.