Tory Wishes to Have the Simplest Form of Taxation and to Pay

question 56

Multiple Choice

Tory wishes to have the simplest form of taxation and to pay taxes on income earned as an employee and from his small business altogether.How should Tory legally organize her business?

• A) as a sole proprietorship
• B) as a partnership
• C) as a limited partnership
• D) as a corporation

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Definitions:

Geographic Boundaries

Physical or imaginary lines that define the spatial extent of territories, countries, states, or municipalities.

Global Competition

The dynamic rivalry between companies from different countries in the global market, involving price, product quality, and customer service.

Social Institutions

Structures or mechanisms of social order and cooperation governing the behavior of a set of individuals within a given community.

Moral Standards

Principles concerning the distinction between right and wrong or good and bad behavior.