Which of the following is FALSE regarding various forms of business organization? Profit from a sole proprietorship is simply added to the owner's income and taxed as personal income. With a partnership, the general partners are personally liable for the obligations of the firm. The profit of a corporation is taxed, and the dividends paid to the stockholders from the company's profits are also taxed as personal income. The bondholders are owners of a corporation. With a sole proprietorship, equity capital is limited to the owner's personal wealth