1 15 Which of the following is not an advantage of a sole proprietorship? It is easier and less costly to start than any other kind of business. It is simple to form and operate. It provides limited liability. The sole proprietor exercises complete control. 2 1s The basic steps for incorporation include: filing articles of incorporation with a state government. O providing extensive details about the firm's operations. deciding how much to pay in dividends to shareholders. Olisting the names and addresses of all employees and corporate officers. 3 19 Gemma wants to start a sandwich shop as a sole proprietor. If she does, and Gemma is the owner of the business, which of the following is true? Gemma: pays personal income taxes on the business profits. has a right to receive all of the profits. has unlimited liability for all obligations of the business. All of these choices. 4 1$ For her birthday, Alicia received as a gift one share of stock in Apple, Inc. This makes Alicia one of the corporation's: owners. trustees. agents. creditors