Which of the Following Statements Regarding a Sole Proprietorship Is

question 94

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 these statements are false.

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Definitions:

Necrotic

Pertaining to the death of cells or tissues in the body, often as a result of disease, injury, or lack of blood supply.

Autonomic Nervous System

A part of the nervous system that controls involuntary actions of the smooth muscles and heart and also regulates glandular functions.

Glands

Organs in the body that secrete hormones or other substances directly into the blood or onto a body surface.

Smooth Muscles

Involuntary muscles found in various parts of the body, such as the intestines and blood vessels, that contract and relax without conscious control.