As a Sole Proprietorship, You Sell Tangible Products to the Public

question 22

Multiple Choice

As a sole proprietorship, you sell tangible products to the public at retail. You will need to pay ________.

• A) Sales tax
• B) Services tax
• C) Self-employment tax
• D) Improvement tax
• E) Both A and C

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Definitions:

Parental Consent

Legal authorization that a parent or guardian gives for their child to participate in certain activities or to receive certain medical treatments.

Terminally Ill

A condition in which an individual is facing a disease or illness that is incurable and likely to lead to death.

Common Law Marriages

A legally recognized marriage without formal ceremony or license, based on the couple's cohabitation and presentation as married to the public.

Notarized Agreement

A document that has been certified by a notary public to confirm the authenticity of the signatures on the agreement.