Indicate whether each of the following statements concerning possible organization structures is true or false. If a statement is false, indicate why.

a. A sole proprietorship and its owner are legally the same entity.

b. The partners in a partnership are not liable for the debts of the partnership.

c. All partners in a partnership must agree on all decisions.

d. A sole proprietorship and its owner are the same entity for financial reporting.

e. A partnership is less risky (for the partners) than a sole proprietorship.

f. Two people can form a sole proprietorship.

g. Twenty people cannot form a partnership.

h. It is more expensive to form a partnership than a sole proprietorship.

i. Any group of people (less than five) canform a partnership by oral agreement. p-968