Which of the Following Statements Is Correct

question 1

Multiple Choice

Which of the following statements is correct?

• A) Sole traders pay income tax as individuals but there is no taxation on the profits of the business itself
• B) On the accounts of a sole trader, retained earnings and capital are usually kept separate
• C) The owners of limited companies receive payment as "drawings"
• D) None of the above statements are correct

---

Definitions:

Environment

The surroundings or conditions in which a person, animal, or plant lives or operates, including natural, social, and built contexts.

Self-evaluation

The process of examining and judging one's own actions and qualities.

Self-love

The regard for one's own well-being and happiness, often emphasizing the importance of caring for oneself.

Self-awareness

The awareness of one's personal traits, emotions, motivations, and wishes.