Multiple Choice
Which of the following statements is true of a sole proprietorship?
A) A sole proprietorship joins two or more individuals as co-owners.
B) The sole proprietor is personally liable for the liabilities of the business.
C) A sole proprietorship is taxed separately from the owner.
D) A sole proprietorship has to pay business income taxes.
Correct Answer:
Verified
Correct Answer:
Verified
Q54: Accounting is referred to as the language
Q96: Equity decreases with expenses and revenues.
Q109: Which of the following will be categorized
Q110: Which of the following is true of
Q111: Which of the following appears on both
Q113: Joshua Thomas Corporation manufactures and retails computer
Q115: Frazier Service Company had a net income
Q116: Harris Landscaping Services incurred $500 as a
Q118: Johnson Company purchased land for $70,000.The president
Q119: Assume MetAmbit Company had a net income