Select all of the TRUE statements below. Four will be check marked.

Question $24$ options:

In a general partnership, each partner is liable for the business$-$related debts of the other partners.

If a corporation fails or gets sued by a customer, debt collectors can come after both the corporation's assets and the assets of its owners.

Stockholders of corporations owe personal income taxes on dividends, which are paid from after$-$tax corporate profits. This is an example of double taxation.

A sole proprietor faces unlimited liability.

An articles of partnership agreement lists and explains the terms of the partnership. This often avoids conflicts, disagreements, and confusion.

Large businesses always must be organized as corporations.