Which One of the Following Statements Concerning a Sole Proprietorship

question 8

Multiple Choice

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

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

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Definitions:

Long-Term Living

Residential options or lifestyles that accommodate individuals typically in their elderly years, providing various levels of support for daily activities and healthcare.

Nursing Center

A healthcare facility specializing in nursing care, providing both short-term rehabilitation and long-term care for patients.

Polypharmacy

Use of a number of different drugs by a patient who may have one or several health problems.

Concurrent Use

The simultaneous use of two or more substances or medications, which may interact with each other.