Which statement is the most accurate?

Question $1$ options:

a$)$

Sole proprietorships are well suited for people who want to own a business and share in its profits without taking an active role in management.

b$)$

Sole proprietorships are taxed at the owner's personal tax rate.

c$)$

Sole proprietorships are the least risky form of business ownership.

d$)$

Sole proprietorships must receive state and federal licensing before conducting business.