1. Which of the following statements is true about a sole proprietorship? A. A sole proprietorship may sell stock. B. To be properly formed, the organizer of a sole proprietorship must file articles of C. Sole proprietorships insulate owners from liability for contractual obligations of the D. Sole proprietorships are pass through entities for tax purposes. 2. Which of the following are accurate statements concerning S corporations? organization with the proper state authorities. proprietorship. S corporation elections are a matter of state law B. Scorporations may have both preferred and common stock. C. Allshareholders must agree to the S corporation election. D. All of the above. E None of the above. An unincorporated of two or more persons to carry on as co-ownersa business for profit is which of the following? 3. A. A sole proprietorship B. A partnership. C. Alimited liability company D. None of the above