A Sole Trader Business Owner

question 52

Multiple Choice

A sole trader business owner:

• A) is personally liable for all debts incurred by the business.
• B) is taxed as an individual on the business income.
• C) is not bound by the formal requirements of accounting standards.
• D) all of the above.

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Definitions:

Conduct Problems

Behavioral issues in children and adolescents that involve breaking societal rules, defying authority, and showing aggression towards others.

Poverty

A state of having insufficient financial resources to meet basic living needs such as food, shelter, and clothing.

Middle-Class Parents

Parents who belong to the socio-economic group characterized by average income, education level, and occupational prestige.

Birth

The act or process of bearing or bringing forth offspring from the uterus, marking the beginning of a new individual's life outside the mother's body.