Which of the following statements is true regarding sole proprietorships?
A. Equity capital from outside sources can be easily raised.
B. The proprietor has authority to make management decisions subject to rules set by the Small Business Administration.
C. A sole proprietorship located and registered in Florida also may operate in Nevada and Michigan without having to register formally in those states.
D. An advantage of the sole proprietorship is its continuation after the proprietor dies.
Answer: C. A sole proprietorship located and registered in Florida also may operate in Nevada and Michigan without having to register formally in those states.
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