Tim Has a Toenail Clipping Business That Is a Sole

question 13

Multiple Choice

Tim has a toenail clipping business that is a sole proprietorship. If he is sued for a botched pedicure

• A) he has limited liability.
• B) he has separation of ownership and control.
• C) all of his personal assets are at risk.
• D) he will be taxed doubly.

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Definitions:

Mentoring Program

A structured relationship in which a more experienced individual provides guidance, knowledge, and support to a less experienced person.

Funded

Having financial support or resources allocated for a specific purpose or project.

Latino American

An individual in the United States who originates from or has ancestry from Latin America.

Poverty

A condition where individuals or communities lack the financial resources to meet basic living needs such as food, shelter, and healthcare.