Francois Is the Sole Owner of a Photo Studio and Handles

question 59

Multiple Choice

Francois is the sole owner of a photo studio and handles most of the work himself. All earnings from the studio become Francois's income. Given this information, Francois:

• A) is obliged to pay both personal tax and company tax.
• B) only pays taxes on his income as the owner.
• C) is free to choose the taxation policy for his company.
• D) has limited liability for the debts incurred by the studio.