Indicate whether each of the following statements concerning possible organization structures is true or false. If a statement is false, indicate why.
a. A sole proprietorship and its owner are legally the same entity.
b. The partners in a partnership are not liable for the debts of the partnership.
c. All partners in a partnership must agree on all decisions.
d. A sole proprietorship and its owner are the same entity for financial reporting.
e. A partnership is less risky (for the partners) than a sole proprietorship.
f. Two people can form a sole proprietorship.
g. Twenty people cannot form a partnership.
h. It is more expensive to form a partnership than a sole proprietorship.
i. Any group of people (less than five) can form a partnership by oral agreement.