Which of the Following Is True of a Sole Proprietorship

question 143

Multiple Choice

Which of the following is true of a sole proprietorship?

• A)A separate tax return must be filed.
• B)It is not a business entity.
• C)There is no personal liability for the owner.
• D)none of the above

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Definitions:

Cumulative Voting

A method of voting in corporate elections which allows shareholders to concentrate their votes on one candidate rather than spreading them out among several candidates.

Annual General Meeting

A mandatory yearly gathering of a company's interested shareholders where directors report on the year's results.

Directors

Directors are individuals elected by shareholders or appointed by other directors who oversee the management and decision-making processes of a corporation.

Right Of Full Participation

The entitlement to engage actively and fully in a process or activity, without restrictions.