Expert Pavers,Inc

question 19

Multiple Choice

Expert Pavers,Inc.,contracts with Fabricated Building Corporation to repave Fabricated's parking lot for which Fabricated agrees to pay.The elements of this,and any other,contract include

• A)capability.
• B)consideration.
• C)formation.
• D)practicality.

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Definitions:

Business

An entity engaged in commercial, industrial, or professional activities with the aim to produce profit or fulfill a charitable mission.

Personal Income Taxes

Taxes levied on the income of individuals, typically based on their earnings from employment, investments, and other sources.

Proprietor

The owner of a business establishment, a shop, or any other commercial enterprise.

Sole Proprietorship's Profits

The total income a sole proprietorship generates after expenses are deducted, belonging entirely to the business owner.