Which one of the following statements concerning a sole proprietorship is correct?
A) A sole proprietorship is difficult to form.
B) The business profits are taxed twice at the federal level.
C) The business profits are taxed separately from the personal income of the owner.
D) The owner may be forced to sell his/her personal assets to pay company debts.
E) A sole proprietorship has an unlimited life.
Correct Answer:
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Q1: The process of planning and managing a
Q2: A general partner:
A)has less legal liability than
Q4: Which one of these accounts is included
Q5: The corporate treasurer oversees which one of
Q6: A partnership:
A)is taxed the same as a
Q7: Which one of the following is a
Q8: The treasurer and the controller of a
Q9: Which one of these is a correct
Q10: Short-term finance deals with:
A)the timing of cash
Q11: Which one of the following statements concerning
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