Which of the Following Statements Regarding a Sole Proprietorship Is

question 53

Multiple Choice

Which of the following statements regarding a sole proprietorship is false?

• A)A sole proprietorship is an unincorporated business operated by one individual.
• B)Taxable income from a sole proprietorship is reported on Schedule D of the proprietor's individual income tax return.
• C)Sole proprietors are entitled to deduct 50 percent of self-employment tax paid.
• D)None of the above statements are false.

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Definitions:

Occupation

A person's regular work or profession; an activity to which one devotes time or a role played in a societal and economic context.

Untouchables

A marginalized group in traditional Hindu society, regarded as outside the caste system and subjected to extensive discrimination and social exclusion.

Indian Society

A diverse social structure in India characterized by a multitude of religious, linguistic, and cultural practices, influenced by a long history of social hierarchy and regional differentiation.

Cheap Labor

Workforce employed at very low wages, often under poor conditions, typically in reference to industries or countries exploiting workers for economic gain.