In Most Profit-Sharing Plans, About __________ of the Net Profit

question 10

Multiple Choice

In most profit-sharing plans, about __________ of the net profit is shared.

• A)5 to 10 percent
• B)10 to 15 percent
• C)15 to 20 percent
• D)20 to 25 percent

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Definitions:

Sole Proprietorship

A business owned and operated by one person, where there is no legal distinction between the owner and the business entity.

Obligations

Duties or responsibilities enforced by law, contract, or moral principles.

Belong

refers to being part of, fitting in, or being rightly placed in a specific context or environment.

Specialized

Relating to a particular area of expertise or designed for a specific purpose or use.