uestion Completion Status: Which of the following is a disadvantage of a sole proprietorship? Entrenched management O Double taxation Personal liability O Excessive regulation QUESTION 22 LWhich of the following is a true statement about a company that uses the allowance method? O Uncollectible accounts are not recorded until the amount becomes significant O The net realizable value of its accounts receivable is shown on the balance sheet o Uncollectible Accounts Expense is recorded when a receivable is written off None of these answer choices are correct QUESTION 23 Which of the following statements about par value is true? O Par value dictates the initial price of the stock Par value has litle connection to the market value of the stock Par value is generally greater than market value O Par value may be revised each time a company issues more shares of stock