Jeremy Is Thinking of Starting Up a Small Business Selling

question 198

Multiple Choice

Jeremy is thinking of starting up a small business selling NASCAR memorabilia.He is considering setting up his business as a sole proprietorship.What is one disadvantage to Jeremy of setting up his business as a sole proprietorship?

• A)As a sole proprietor, Jeremy would be taxed twice.
• B)As a sole proprietor, Jeremy would not have control of the business.
• C)As a sole proprietor, Jeremy would face unlimited liability.
• D)As a sole proprietor, Jeremy would be subject to significant rules and regulations.

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Definitions:

Comparison Level

A standard against which current experiences or relationships are judged, based on past experiences.

Norm of Homogamy

A social norm that suggests individuals tend to form romantic relationships with others who are similar to them in aspects like socio-economic status, beliefs, or age.

Romantic Love Ideal

Five beliefs regarding love, including the belief (1) in love at first sight, (2) that there is one and only one true love for each person, (3) that love conquers all, (4) that our beloved is (nearly) perfect, and (5) that one should follow his or her heart.

Living-Alone-Together

A relationship arrangement where committed partners maintain separate residences but are in a long-term, intimate relationship.