Which of the following statements is the most accurate?
A) Sole proprietorships are well suited for people who want to own a business and share in its profits without taking an active role in management.
B) Sole proprietorships are taxed at the owner's personal tax rate.
C) Sole proprietorships are the least risky form of business ownership.
D) Sole proprietorships must receive a state charter before they can legally conduct business.

Question

Quizplus · Accepted Answer

One of the major advantages of sole proprietorships is that they are easy to form and end and taxed at the owner's personal tax rate.

Which of the Following Statements Is the Most Accurate