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Question 1 of 5

1. Question

A sole proprietorship is owned by one person.

True
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False
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Question 2 of 5

2. Question

In a sole proprietorship, the business and the owner are separate legal entities.

True
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False
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Question 3 of 5

3. Question

In most partnerships, partners share profits and responsibilities.

True
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False
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Question 4 of 5

4. Question

A corporation is owned by shareholders and is separate from its owners.

True
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False
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Question 5 of 5

5. Question

In a corporation, owners are personally responsible for all business debts.

True
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