Madam Mona set up MM & Company, a sole proprietorship business. Which of the following assertions applies to MM & Company?

A. MM & Co. is a business entity, not a legal entity and has limited life B. MM & Co. has limited life, is a business entity and has limited liability C. MM & Co. can file tax return in own business name and has limited life but unlimited liability D. MM & Co. does not have unlimited life or limited liability but can sue ABC Co. in its own name