Dave's Take-Home-Pay Per Month Is $2,200

question 52

Multiple Choice

Dave's take-home-pay per month is $2,200. What is the maximum dollar amount of debt payments, excluding a home mortgage, he should have?

• A) $880
• B) $440
• C) $330
• D) $220
• E) $0

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Definitions:

Sole Proprietorship

A company that is both owned and run by one person, where the law does not separate the owner from the entity itself.

Profits Taxed Twice

Describes circumstances where corporate profits are taxed at the business level and then taxed again when distributed as dividends to shareholders.

Multinational Corporations

Companies that operate in multiple countries, managing production or delivering services in more than one country.

Small Retail Businesses

Small-scale retail outlets that sell goods or services to consumers, often characterized by independent ownership and operation.