A Disadvantage of the Sole Proprietorship Form Is Often

question 305

Multiple Choice

A disadvantage of the sole proprietorship form is often:

• A) business profits are taxed to the owner personally
• B) the owner is personally liable for all the business debts
• C) the owner has sole responsibility for control, liabilities, and management
• D) the record keeping formalities of the business are within the owner's discretion
• E) none of the other choices

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Definitions:

Aboriginal Canadians

Indigenous peoples in Canada, including First Nations, Inuit, and Métis, who have unique cultures, languages, and histories.

Jamaican Canadians

Individuals of Jamaican descent who are either born in or have migrated to Canada, contributing to Canada's multicultural society.

Symbolic Ethnicity

Is a nostalgic allegiance to the culture of the immigrant generation, or that of the old country, that is not usually incorporated into everyday behaviour.

Herbert Gans

An influential sociologist known for his work in urban sociology, community studies, and the role of media in society.