Which one of the following statements concerning a sole proprietorship is correct? Group of answer choices The life of the firm is limited to the life span of the owner. The owner can generally raise large sums of capital quite easily. The company must pay separate taxes from those paid by the owner. The ownership of the firm is easy to transfer to another individual. The legal costs to form a sole proprietorship are quite substantial.

The life of the firm is limited to the life span of the owner

Explanation:

A sole proprietorship is a type of person run by only one person.

Because the business is run by only one person, the business tends to end when the owner dies. most sole proprietorship lack continuity after the death of the owner

The owner can raise limited amount of capital

The owner and the business are viewed as one entity. So, they don't pay separate taxes.

B. False

Explanation:

Since in the question, it is mentioned that Erney applied for a carpentry apprenticeship program. Also he took the test. This is not a illegal as if he wants to work in two specialized field than he could co but the work should be legal in nature and both the work are legal itself

Hence, the given statement is false