True or False

1) . A principal is not liable to a third party for any contract made by the agent acting outside the scope of his or her authority.

2) A sole proprietorship's income is taxed as the firm's profits, not as the owner's personal income.

3) . One of the disadvantages of a sole proprietorship is that the owner is liable for the losses of the business

4) In a limited partnership, the liability of a general partner is limited to the amount of capital he or she has invested in the partnership