Are the following statements True or False? A general partnership must have at least 2 members with each having their potential financial loss in the partnership limited to their individual investment. 1. 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. 5. Which business types among the following (Sole proprietorship. Limited Liability company, Corporation, General partnership) is best suited to raise the most capital? A corporation's pretax net income of S 000.000 is taxable based on 10% of the first S300 000. 16% of the next $300,000, and 21% of the balance: What is the corporation's average tax rate? 6. 7. What is the corporation's marginal tax rate? Do the following events INCREASE or DECREASE or have NO EFFECT on net working capital? 8. Inventory is purchased on credit. A $100 account receivable is discounted and sold for S97 cash. 9. 10. The company has an open invoice for S100 but then chooses to take the 2% discount offered and pay $98 if paid within 10 days