1. (20 points) Indicate whether each statement is true of falie. Each statement earries a value of 2 points, and there are a tocal of 10 staternents, resulting, in a maximsim of 20 points a. In sole proprietorahips, the cowrier has limited personal linhlility for the firm's debta. True False b. In limited tubllity compasaies, owners are liable for the firm's debts. True False c. In the United Staten, limited liability companies are subject to double taxation. True False d. Corporations, as legal entities, bear liability for their own obligations. True False e. In corporations, owners are typically not involved in managerial roles. True False f. After an initial public offering (IPO), a corporation's shares continue to be traded on the primary market. True False g. The ask price is the price at which a market maker is willing to buy a security. True False h. The primary role of commercial banks is to help companies raise capital by facilitatisg the issuance of stocks and bonds on behalf of corporate clients. True False i. Unlike mutual funds which serve investors of all means, hedge funds are primarily designed for wealthy investors and endowments. True False j. Hedge funds are highly regulated funds which are restricted from investing in many risky categories of investments. True False