A sole proprietorship can have multiple owners, such as a married couple, is this statement true or false?

The statement regarding a sole proprietorship having multiple owners, such as a married couple, is false. A sole proprietorship is characterized by being owned and operated by a single individual. This structure does not allow for multiple owners; if two or more individuals run a business together, it typically falls under a partnership or a different business entity classification. In the case of a married couple, if they are conducting business together, they would need to establish a partnership or another legal structure to properly account for both owners' interests and responsibilities. This distinction is crucial for understanding the implications of ownership in terms of liability, taxation, and management.