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Which one of the following statements concerning a sole proprietorship is NOT TRUE? *
a.No separation between ownership and management.
b.Lack of legal formalities
c.All profit or losses to the proprietor
d.Easy to raise more capital
Which one of the following is not a characteristic of a company? *
a.Profit will be paid to the owners in form of dividends.
b.None of the above
c.A companys life depends upon the existence of its founder.
d.A company is managed through a board of directors elected by its shareholders
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