Francois Is the Sole Owner of a Photo Studio and Handles

question 59

Multiple Choice

Francois is the sole owner of a photo studio and handles most of the work himself. All earnings from the studio become Francois's income. Given this information, Francois:

• A) is obliged to pay both personal tax and company tax.
• B) only pays taxes on his income as the owner.
• C) is free to choose the taxation policy for his company.
• D) has limited liability for the debts incurred by the studio.

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Definitions:

Improvement Goals

are objectives set to enhance the effectiveness, efficiency, productivity, or quality in personal or professional areas.

Recognized

Identified or acknowledged for one's achievements, qualities, or status.

Quality

The degree of excellence of a thing; a virtue resulting from superior form, function, beauty, utility, fit, and other valuable attributes; the character of a person or thing that makes it desirable. See excellence.

Time Factors

Elements that influence the timing and duration of processes or events, affecting planning and decision-making in various contexts.