T f a single proprietorship aka sole proprietorship

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(T / F) A single proprietorship (aka sole proprietorship) is an unincorporated business owned by an individual and often managed by that individual. Select one: True False The correct answer is 'True'. Correct.
Question Correct (T / F) The income statement shows the profitability of the company and is dated as of a particular date, such as December 31, 2014. 4 Mark 1.00 out of 1.00
Question Correct (T / F) Retained earnings represent undistributed net income. 5 Mark 1.00 out of
1.00 Question Correct 6 Mark 1.00 out of 1.00 Question Correct 7 Mark 1.00 out of 1.00 True False Correct. Net income minus dividends yields retained earnings. The correct answer is 'True'.

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