Questloll 20 UI TJ. Which of the following statements regarding a sole proprietorship is TRUE. A sole proprietorship Owner will be personally liable for debts of the business. Must register with the state. Must keep documents governing operations. Is required to legally dissolve as set out in the organizational documents Mark for follow up estion 31 of 75. Which of the following situations would warrant the use of the standard mileage rate? A taxpayer has 80% business use of their vehicle and maintains a mileage log with all required information A taxpayer has five or more cars used at the same time (a fleet of vehicles) in his business. A rural mail carrier's vehicle when the carrier received qualified reimbursement A vehicle in the second year of service for which the standard mileage rate was not used in the first year of service