Which of the Following Is True Concerning a Sole Proprietorship

question 127

Multiple Choice

Which of the following is true concerning a sole proprietorship?

• A) It is a separate legal entity.
• B) It may have more than one class of stock outstanding.
• C) It is owned by one or more persons.
• D) The separate entity concept applies.

---

Definitions:

Commercial Aircraft

Airplanes designed specifically for carrying passengers and/or cargo for commercial airlines.

Ready-Mix Concrete

Concrete that is manufactured in a factory or batching plant, according to a set recipe, and then delivered to a worksite by truck mounted in–transit mixers.

Sunk Costs

Costs that have already been incurred and cannot be recovered or altered by current or future actions.

Cost Curves

Graphical representations that show the cost of production as a function of total quantity produced.