Which one of the following statements concerning a sole proprietorship is correct?
a. The profits of a sole proprietorship are subject to double taxation.
b. The owner of a sole proprietorship is personally responsible for all of the company's debts.
c. There are very few sole proprietorships remaining in the U.S.A. today.
d. A sole proprietorship is the least common form of business ownership.
Which one of the following statements concerning a sole proprietorship is correct?
a. The profits of a sole proprietorship are subject to double taxation.
b. The owner of a sole proprietorship is personally responsible for all of the company's debts.
c. There are very few sole proprietorships remaining in the U.S.A. today.
d. A sole proprietorship is the least common form of business ownership.
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Related questions
1.If a stock is sold on the secondary market between one investor and another, what effect does that have on the financial statements of the company that originally issued the stock?
Its revenues increase | ||
Its "in excess" equity increases | ||
It has a new asset | ||
There is no effect since the sale or trade is among investors only |
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2.
QUESTION 10
Which of the following is an advantage of the corporate form of business organization?
double taxation | ||||||||||||||||||||||||||||||||||||||
amount of regulation | ||||||||||||||||||||||||||||||||||||||
limited liability | ||||||||||||||||||||||||||||||||||||||
entrenched management 3. Ownership and profit distribution in a sole proprietorship are generally seen on its balance sheet respectively as
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