1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Law Incorporation [45]
3 years ago
5

Elroy is the sole proprietor of a gift shop in a small shopping center. Because he is a sole proprietor, any profit Elroy's busi

ness earns is: A)totally tax-free. B)taxed only as Elroy's personal income. C)taxed twice, once as business income, then again as Elroy's personal income. D)taxed only if and when it is distributed to investors.
Business
1 answer:
USPshnik [31]3 years ago
3 0

Answer:

B)taxed only as Elroy's personal income.

Explanation:

A sole proprietorship is owned by one person known as the sole proprietor. His profits are taxed once as personal income. A sole proprietorship doesn't have investors.

I hope my answer helps you

You might be interested in
Quintina decided to increase the deduction percentage of her federal income tax rate from 14% to 16%. Quintina’s gross pay per m
lora16 [44]
Since you gave no table,

her federal income in 14 % Rate = 14 % x 2,100
                                                         = $ 294

Her federal tax in 16 % Rate = 16 % x 2,100
                                                 =  $ 336
4 0
3 years ago
Read 2 more answers
Suppose bundle a contains 5 cds and 5 dvds and bundle b contains 88 cds and 33 dvds. if a consumer is able to rank different com
Fofino [41]
<span>If a consumer was asked to rank different combinations of goods and services terms of how much utility they provide, then a bundle with a total of 112 cds and dvds would rank higher than a bundle with a total of 10 cds and dvds, if based on total of goods only. This does not take into account the contents of the media.</span>
5 0
3 years ago
Paden Company purchased merchandise from Emmett Company with freight terms of FOB shipping point. The freight costs will be paid
Nikitich [7]

Answer:

Buyer (Paden Company)

Explanation:

The freight costs will be paid by the Buyer. FOB shipping point means that the Buyer takes all the risks and rewards associated with the purchase as soon as the goods leave sellers location.

8 0
3 years ago
CAN SOMEBODY PLEASE ANSWER ASAP WITH 100% CORRECT ANSWER
natima [27]

Answer:

d

Explanation:

4 0
4 years ago
_____ is abroad declaration of an organization's purpose that identifies the organization's products and customers and distingui
fgiga [73]
A mission is abroad declaration of an organization's purpose that identifies the organization's products and customers and distinguishes the organization from its competitors.

Sometimes this is confused with vision. The vision is where the organization wants to be 5 - 10 years from now.
5 0
4 years ago
Other questions:
  • Which of the following inventory costing methods shown below is required by GAAP (Generally Accepted Accounting Principles) for
    9·1 answer
  • During 2021, its first year of operations, Baginski Steel Corporation reported a net operating loss of $388,000 for financial re
    6·1 answer
  • One significant component of ____ can be the investment a seller makes in equipment or in the hiring of skilled employees to sup
    9·1 answer
  • During its first year of operations, the McCormick Company incurred the following manufacturing costs: Direct materials, $5 per
    8·1 answer
  • Heidi's Accessories bought 50 necklaces for $10 each on account. The invoice included a 6% sales tax and payment terms of 2/10,
    9·1 answer
  • Which of these interaction is most consistent with the idea of networking? Select one:
    5·1 answer
  • A project with an initial cost of $27,250 is expected to generate cash flows of $6,600, $8,700, $9,100, $8,000, and $7,400 over
    7·1 answer
  • What happens in the process represented by the pseudocode below?
    7·1 answer
  • Capital expenditure projects may be classified in all the following types EXCEPT ____. Group of answer choices
    6·1 answer
  • Please Help soon
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!