Sole proprietorships, also known as individual proprietorships, are a form of business ownership. Which of the following choices best summarizes their advantages and disadvantages? Group of answer choices

Sole proprietorships are generally simple, inexpensive business forms; however, they expose their sole owners to unlimited personal liability.

Sole proprietorships are generally simple, inexpensive business forms; however, they can be a tax burden with their corporate-like double-taxation structure.

Sole proprietorships are generally simple, inexpensive business forms; however, they dont allow their owners to have much flexibility with regard to their operation.

Sole proprietorships are generally simple, inexpensive business forms; however, because they convert into partnerships upon the death of their sole owners, they can be hard to manage after the death of their sole owners.