Which of the following is afalsestatement?

A franchisor can impose certain quality standards on a franchisee.

Some business forms and organizations in the U.S. offer limited liability to their owners and investors.

Many states in the U.S. now permit business persons to operate as a limited liability company (LLC).

No capital can be raised through an offering of stock in the U.S. without the principals first registering the shares with the Securities and Exchange Commission and obtaining the agency's approval.