Which One of the Following Statements Concerning a Sole Proprietorship

question 19

Multiple Choice

Which one of the following statements concerning a sole proprietorship is correct?

• A)A sole proprietorship is often structured as a limited liability company.
• B)The owner of a sole proprietorship may be forced to sell personal assets to pay company debts.
• C)The owners of a sole proprietorship share profits as established by the partnership agreement.
• D)The profits of a sole proprietorship are taxed twice.
• E)A sole proprietorship is difficult to create.

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Definitions:

Public Intellectual

An intellectual who communicates ideas and analyses about society to the public.

Sociological Imagination

The ability to see the relationship between individual experiences and the larger society, emphasizing the connection between personal issues and broader social structures.

C. Wright Mills

An American sociologist known for his work on the structure of power in American society and for coining the term "sociological imagination."

Sociologists

Scholars who study society and social behavior by examining the groups, cultures, organizations, social institutions, and processes that develop when people interact and work together.