A Sole Proprietorship Is a Form of Business Ownership in Which

question 106

Multiple Choice

A sole proprietorship is a form of business ownership in which:

• A) the company is considered a legal entity that is separate from its owners.
• B) a single owner actively manages the company.
• C) two or more people act as co-owners of the company.
• D) the owners of the business are offered limited liability and flexible tax treatment.

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Definitions:

Unemployment Rate

The percentage of the labor force that is jobless and actively seeking employment.

Cancellation Fee

A charge that may be imposed for terminating a service or contract before its agreed-upon end date.

Monthly Issues

Refers to publications or reports that are released once every month.

Inheritance

Assets received from someone who has died.