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Which one of the following statements correctly applies to a sole proprietorship? The business entity has an unlimited life. The ownership can easily be transferred

Which one of the following statements correctly applies to a sole proprietorship?

The business entity has an unlimited life.

The ownership can easily be transferred to another individual.

The owner enjoys limited liability for the firm's debts.

Debt financing is easy to arrange in the firm's name.

Obtaining additional equity is dependent on the owner's personal finances.

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