Which of the following statements is CORRECT? (Points : 6) One of the disadvanta

Question

Which of the following statements is CORRECT? (Points : 6)
One of the disadvantages of a sole proprietorship is that the proprietor is exposed to unlimited liability.
It is generally easier to transfer one’s ownership interest in a partnership than in a corporation.
One of the advantages of the corporate form of organization is that it avoids double taxation.
One of the advantages of a corporation from a social standpoint is that every stockholder has equal voting rights, i.e., “one person, one vote.”
Corporations of all types are subject to the corporate income tax.

Explanation / Answer

One of the disadvantages of a sole proprietorship is that the proprietor is exposed to unlimited liability.

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