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:

Substance Abuse

The detrimental or unsafe utilization of substances that affect mental processes, such as alcohol and illegal drugs.

Screen

In a medical or psychological context, to conduct a preliminary assessment to detect the possible presence of a particular disease, disorder, or relevant condition.

MMPI-2

The Minnesota Multiphasic Personality Inventory-2, a comprehensive psychological test that assesses personality traits and psychopathology.

SASSI-3

A screening tool used to identify individuals with substance use disorders through self-reporting.