Albert is the owner of a car service center. As a sole proprietor, any profit that he earns is:
A) subjected to double taxation.
B) treated as Albert's personal income.
C) not subjected to any form of taxation.
D) taxable only when he acquires shareholders.

Question

Quizplus · Accepted Answer

As a sole proprietor, Albert's business profits are considered his personal income and are taxed as such, avoiding double taxation.

Albert Is the Owner of a Car Service Center