Which of the following is false regarding a sole proprietorship?The owner has unlimited personal liability for the firm's debtsIt is difficult to transfer ownershipIt is somewhat complex to form and operateIts life is limited to the life of its owner

There are several forms of business organisation, in which businesses can be run and maintained.…

Which of the following is false regarding a sole proprietorship? The owner has unlimited personal liability for the firm's debts O It is difficult to transfer ownership O It is somewhat complex to form and operate Its life is limited to the life of its owner

Which of the following is false regarding a sole proprietorship? The owner has unlimited personal liability for the firm's debts O It is difficult to transfer ownership O It is somewhat complex to form and operate Its life is limited to the life of its owner

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter20: Corporations And Partnerships

Section: Chapter Questions

Problem 2DQ: LO.1 Sylvia and Trang want to enter into business together and are unsure what type of entity to...

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Question

Which of the following is false regarding a sole proprietorship?
The owner has unlimited personal liability for the firm's debts
It is difficult to transfer ownership
It is somewhat complex to form and operate
Its life is limited to the life of its owner

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