All of the Following Are Advantages of the Sole Proprietorship

question 21

Multiple Choice

All of the following are advantages of the sole proprietorship form of business organization, except:

• A) Tax simplicity
• B) Individual control
• C) No sharing of profits
• D) Limited liability

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Definitions:

FICA Medicare

Part of the U.S. payroll tax, specifically aimed at funding Medicare, a federal health insurance program for people aged 65 and older, and some younger individuals with disabilities.