Remaining Time: 1 hour, 01 minute, 04 seconds. dyre Question Completion Status: QUESTION 15 34 A disadvantage for a proprietorship versus the corporate form is: a Difficulty in raising money b. All income is taxed at the proprietor's personal tax rate OC. A permit is needed to open Od Both C&D e Lack of limited liability QUESTION 16 The biggest difference between the income statement and the balance sheet is. O a the balance sheet represents flows at a point in time, while the income statement reflects flows over a time period Ob the income statement is submitted to the government, while the balance sheet is shown to investors. Oc the income statement shows incoming deposits, while the balance sheet shows account balances from the bank d the income statement is always more accurate than the balance sheet QUESTION 17 The Statement of Cash Flows: O a summarizes the assets and expenses of a firm b. Summarizes the income and expenses of a firm C. Summarizes the sources and uses of cash of a firm d Summarizes the assets and liabilities of a firm Click Save and Submit to save and submit. Click Save All Answers to save all answers. 3 Save All Answers Close Window . IT $92