Question

Christopher is self-employed and reports all of his business-related income and expenses on his personal tax return. this is an example of:_____.
a. a proprietorship
b. a corporation
c. an llp/llc
d. a partnership

Answer 1

Correct option is A. Christopher is self-employed and reports all of his business-related income and expenses on his personal tax return. this is an example of a proprietorship.

What is meant by sole proprietorship?

A sole proprietorship is a type of business that is owned and operated by one person and in which there is no legal separation between the owner and the business entity. It is also referred to as a lone tradership, individual entrepreneurship, or proprietorship. A solitary proprietor may hire employees in addition to doing their own business .

The lone proprietor is solely responsible for all losses and obligations and receives all gains (subject to business-specific taxes). The owner of the firm is the owner of all of the company's assets and is also responsible for all of the company's debts. In contrast to a partnership, which has at least two owners, it is a "single" proprietorship.

To learn more about proprietor from given link

brainly.com/question/1167298

#SPJ4