For financial reporting, joint costs are assigned to the product with the highest sales value.
o true o false

False

Explanation:

Joint costs are the costs incurred in producing the two or more products at the same time. This requires direct products, direct labor and overhead cost of production.  

Only one input is needed in this cost which gives multiple outputs.  

The joint allocation of costs based on two or more common products manufactured by the company

Hence, the given statement is false.

d. low interest rates

one of the appeals of a sole proprietorship is that business expenses are kept separate from your personal income tax return