Which One of the Following Statements Concerning a Sole Proprietorship

Multiple Choice

Which one of the following statements concerning a sole proprietorship is correct?

A) A sole proprietorship is the least common form of business ownership.
B) The profits of a sole proprietorship are taxed twice.
C) The owners of a sole proprietorship share profits as established by the partnership agreement.
D) The owner of a sole proprietorship may be forced to sell his/her personal assets to pay company debts.
E) A sole proprietorship is often structured as a limited liability company.