Which of the following statements regarding business forms is true?
A)A sole proprietorship is an unincorporated business owned by one person.
B)All partnerships are owned by two people.
C)A corporation is not a legal entity.
D)An LLC (limited liability company)has the same tax treatment as a corporation.

Question

Quizplus · Accepted Answer

A sole proprietorship is indeed an unincorporated business owned by one person. B is false as partnerships can have multiple owners, not just two. C is false as a corporation is indeed a legal entity. D is false as LLCs have different tax treatments from corporations.

Which of the Following Statements Regarding Business Forms Is True