Which of the Following Is FALSE

question 74

Multiple Choice

Which of the following is FALSE?

• A)A sole proprietor is exclusively responsible for performing all contracts entered into in connection with the business.
• B)Sole proprietors must include any income or loss from the sole proprietorship business in their income for income tax purposes.
• C)A sole proprietor is vicariously liable for torts of employees in the course of the sole proprietorship business.
• D)A sole proprietor cannot be an employee of the sole proprietorship business.
• E)A sole proprietorship is a cautious method of forming of business as the proprietor has no legal liability for tort of contract and the proprietorship business is a separate legal entity from the proprietor.

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Definitions:

Total Revenue

The total income received by a firm from selling its goods or services.

Total Revenue

The total amount of money generated by the sale of goods or services before any expenses are subtracted.

Total Revenue

This is the total amount of money a firm receives from the sale of its products or services, calculated by multiplying the price per unit by the number of units sold.

Sellers' Total Revenue

The total amount of money received by sellers from selling a certain amount of goods and services.