Chipper Is the Sole Proprietor of a Golf Shop

question 197

Multiple Choice

Chipper is the sole proprietor of a golf shop. Because she is a sole proprietor, any profit Chipper's business earns is

• A) totally tax-free.
• B) taxed only as Chipper's personal income.
• C) taxed twice, once as business income, then again as Chipper's personal income.
• D) taxed only if and when it is distributed to investors.

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Definitions:

Self-determination Theory

A psychological theory focused on motivation, which posits that people are driven to grow and change by three innate and universal psychological needs: autonomy, competence, and relatedness.

Universal Needs

Fundamental needs that are commonly considered essential for all humans, such as food, water, shelter, and safety.

Aesthetic Need

The human desire for beauty and visually pleasing experiences in their surroundings.

Sensation Seeker

A person who seeks out new and different sensations, experiences, and risks to achieve a heightened sense of excitement and adventure.