Which of the Following Is Not an Advantage of Starting

question 166

Multiple Choice

Which of the following is not an advantage of starting a new business as a proprietorship?

• A)The owner has complete control over the business.
• B)A proprietorship has few government rules and regulations to comply with.
• C)Business profits are only taxed once, not twice.
• D)A proprietorship can easily attain additional funding.

Grasp the concept of funded status and its significance for pension plans.

Recognize how U.S. income tax code affects pension funding and strategy.

Understand the implications of the funded status of a pension plan on a firm's financial health.

Identify differences between IFRS and U.S. GAAP in accounting for pensions.

---

Definitions:

Selection Effect

Refers to a bias introduced into research when individuals are not randomly assigned, leading to non-comparable groups.

Peers

Individuals of similar age, status, or interest, often considered equals within a specific context.

Attitudes

Psychological tendencies expressed by evaluating a particular entity with some degree of favor or disfavor.

Temperament

The combination of inherent traits, personality, and behaviors that determine an individual's typical responses to the environment.