Which of the following statements is correct?
A) Sole traders pay income tax as individuals but there is no taxation on the profits of the business itself
B) On the accounts of a sole trader, retained earnings and capital are usually kept separate
C) The owners of limited companies receive payment as "drawings"
D) None of the above statements are correct
Correct Answer:
Verified
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Q7: Which of the following statements is correct?
A)
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