Which one of the following statements concerning a sole proprietorship is correct?

Multiple Choice

A sole proprietorship has an unlimited lifespan.

The owner of a sole proprietorship may be forced to sell personal assets to pay company debts.

The owners of a sole proprietorship share profits as established by the partnership agreement.

If the owner of a sole proprietorship receives profits from the firm, the profits are subject to double taxation.

A sole proprietorship may issue shares of stocks to expand the firm.