In a Sole Proprietorship,the Profits Earned by the Business Are

question 280

Multiple Choice

In a sole proprietorship,the profits earned by the business are:

• A)Taxed as income for the business,but is exempt from the personal income tax paid by the owner.
• B)Taxed at the lowest corporate rate.
• C)The property of the owner,except for taxes owed to the government.
• D)Tax-free if the appropriate exemption is filed with the local government.

---

Definitions:

Managerial Roles

The specific functions or responsibilities that managers assume in an organization to achieve goals, including planning, organizing, leading, and controlling.

Monitor

To observe and check the progress or quality of (something) over a period of time; keep under systematic review.

Scan

To examine or review with the purpose of locating information or identifying certain elements, often used in the context of analysis or research.

Social Capital

The web of connections between individuals who reside and are employed within a specific community, facilitating the efficient operation of that society.