Which of the Following Is an Advantage of a Sole

question 103

Multiple Choice

Which of the following is an advantage of a sole proprietorship?

• A) The owner has unlimited liability.
• B) The business ceases to exist when the owner dies.
• C) There is a limit to the amount one person can borrow.
• D) Profits are taxed as individual income.
• E) There is one-person control of all aspects of the business.

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Definitions:

Criminal Case

A legal proceeding involving the government prosecuting an individual accused of breaking the law.

HIPAA Privacy Rule

A set of national standards created to protect individuals' medical records and other personal health information.

Personal Health Information

Any data related to a person's physical or mental health, healthcare history, or payment for healthcare services, which is protected for privacy.

Durable Power Of Attorney

Also known as health care power of attorney, it is an instruction from the patient to all who might need to know that the patient has empowered a representative to make health care decisions and the discontinuation of life support.