Multiple Choice
Which of the following is true of creating a sole proprietorship?
A) No government approval is required.
B) Federal taxation is levied upon sole proprietorship.
C) No licenses are required to do business within a city or state.
D) Special permission must be obtained to receive a sole proprietorship status.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: No monetary damages can be claimed between
Q2: A(n) _ is a partnership created for
Q3: The designation of _ is used for
Q5: A general partnership agreement must always be
Q6: Which of the following is true of
Q7: General partners have _ for the debts
Q8: Receipt of a share of business profits
Q9: Which of the following serves as a
Q10: How are assets distributed after the dissolution
Q11: A sole proprietor is legally responsible for