Which of the Following Statements Is the Most Accurate? Sole

question 299

Multiple Choice

Which of the following statements is the most accurate? Sole proprietorships:

• A)Are well suited for people who want to own a business and share in its profits without taking an active role in management.
• B)Are taxed at the owner's personal tax rate.
• C)Is the least risky form of business ownership.
• D)Must receive a state charter before they can legally conduct business.

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Definitions:

Value of Production

The total worth of the goods and services produced by a company, industry, or economy.

Tariff

A tax imposed on imported goods and services, which can affect trade balances, prices, and even the economy as a whole.

Trade Deficit

A scenario in which a nation imports more goods and services than it exports, leading to a negative trade balance.

Oil

A fossil fuel that is a primary source of energy for heating, transportation, and the production of many goods, playing a critical role in the global economy.