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Which of the following statements is not true regarding the advantages and disadvantages of a sole proprietorship? A sole proprietorship can be created without formal

Which of the following statements is not true regarding the advantages and disadvantages of a sole proprietorship?

A sole proprietorship can be created without formal agreements or state filings.

The proprietor reports income from the business on a personal tax return.

The proprietor alone bears liability for the losses.

It is usually easy for sole proprietorships to raise capital.

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