Which of the Following Statements Regarding Sole Proprietorships Is False

question 54

Multiple Choice

Which of the following statements regarding sole proprietorships is false?

• A) A sole proprietorship has no legal identity separate from that of its owner.
• B) Sole proprietorships are the most common form of business entity in the U.S.
• C) The cash flow generated by a sole proprietorship belongs to the owner.
• D) The assets and liabilities of a sole proprietorship are held in the name of the business, not the owner.

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Definitions:

Affective Component

The affective component refers to the emotional aspect of attitudes, encompassing feelings and emotions towards an object or concept.

Specific Feeling

A distinct emotional experience characterized by its particular quality, intensity, and context.

Type A Personality

A personality trait characterized by high levels of competitiveness, self-imposed stress, and a constant sense of urgency.

Multitasking

The action or capability of handling more than one task simultaneously or switching between tasks quickly.