Which of the Following Statements Is True of a Sole

question 114

Multiple Choice

Which of the following statements is true of a sole proprietorship?

• A)A sole proprietorship joins two or more individuals as co-owners.
• B)The sole proprietor is personally liable for the liabilities of the business.
• C)A sole proprietorship is taxed separately from the owner.
• D)A sole proprietorship has to pay business income taxes.

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Definitions:

Terrestrial

Pertaining to or representing the land as opposed to water or air.

Monocot

One of two classes of flowering plants; monocot seeds contain a single cotyledon, or seed leaf. Compare with eudicot.

Linnaeus

Carl Linnaeus, an 18th-century Swedish botanist, physician, and zoologist who is known as the father of modern taxonomy for creating a system for naming, ranking, and classifying organisms.

Binomial System of Nomenclature

A formal system of naming species of living things by giving each a name composed of two parts, both of which use Latin grammatical forms.