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:

Compensation Viewpoint

A perspective that suggests individuals may develop certain traits or behaviors as a way to compensate for or overcome disabilities or deficiencies.

Cohort Effect

A cohort refers to people born at roughly the same time, and a cohort effect refers to differences in age cohorts (e.g., people born in 1930 versus those born in 1980) as a result of unique social and historical events they have experienced.

Cross-Sectional Surveys

Research tools used to gather information from a sample population at one specific point in time to analyze trends or patterns.

Theoretical Frameworks

Structured sets of concepts and ideas that guide academic research and interpretation of data.