Are the following statements True or False 1A general partne

Are the following statements True or False?

1)A general partnership must have at least 2 members with each having their potential financial loss in the partnership limited to their individual investment. False

2)The owner of a sole proprietorship has unlimited liability for the company’s debt.

3)A corporation is considered a separate legal entity from its shareholders.

4)Once a corporation has paid taxes on its income, it can be passed on as tax-free dividends to its shareholders.

Solution

1)True since it needs to have a minimum of 2 members and share profits and loss based on proportion of investment

2)True since he is the only owner needs to share everything

3)True

4)False , the shareholders also needs to pay taxes on the dividend received