Most Businesses in the United States Are Sole Proprietorships

question 224

Multiple Choice

Most businesses in the United States are sole proprietorships.Most sole proprietors pay ________ on their profits.

• A)the corporate income tax
• B)the federal personal income tax
• C)the progressive excise tax
• D)no tax

Understand how cultural diversity affects group dynamics and decision-making outcomes.

Identify the characteristics and prerequisites for effective participative decision-making and creative problem-solving.

Understand the concept and conditions that encourage groupthink.

Describe the rational model of decision making and its importance.

---

Definitions:

Best Use

The most efficient or profitable use of a resource, property, or asset, taking into consideration its potential to generate the highest return or utility.

Present Value Terms

The current worth of a future sum of money or stream of cash flows, given a specific rate of return.

Market Rate

The prevailing price or interest rate available in the marketplace for goods, services, or securities.

Oil Reserve

An estimate of the amount of crude oil located in a particular economic region with the potential of being extracted and exploited.