Multiple Choice
Elroy is the sole proprietor of a gift shop in a small shopping centre.Because he is a sole proprietor,any profit Elroy's business earns is:
A) taxed twice,once as business income,then again as Elroy's personal income.
B) taxed only if and when it is distributed to investors.
C) taxed only as Elroy's personal income.
D) totally tax-free.
Correct Answer:
Verified
Correct Answer:
Verified
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