Bot GPT 4-o mini The true statement about sole proprietorships is:
A sole proprietorship is the simplest form of business organization.
The other statements are false:
- A sole proprietorship does not continue if the owner dies; it ceases to exist unless there are provisions for transferring its assets.
- The owner of a sole proprietorship has unlimited liability, meaning they are personally responsible for all the business's debts.
- The owner of a sole proprietorship does not report to shareholders, as there are no shareholders in this type of business structure.
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