Which One of the Following Statements Is Correct with Respect

question 170

Multiple Choice

Which one of the following statements is correct with respect to sole proprietorships?

• A) A sole proprietorship is a separate legal entity with one shareholder.
• B) A sole proprietorship involves limited liability.
• C) The sole proprietor is a society under the Societies Act.
• D) A sole proprietorship involves unlimited liability for the proprietor.
• E) The sole proprietor is restricted to service type businesses.

---

Definitions:

Republic

A form of government in which power resides with elected individuals representing the citizen body and government leaders exercise power according to the rule of law.

Sitting on a Man

A traditional form of protest among the Igbo people, where women publicly shame a man to settle grievances.

Igbo Women

Female members of the Igbo people, an ethnic group primarily located in southeastern Nigeria, with distinct social, cultural, and historical identities.

Aristocracy

A class of people holding exceptional rank and privileges, especially the hereditary nobility.