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KengaRu [80]
3 years ago
9

If the business is designated a sole proprietorship, profits are passed along to the owner. For tax purposes, these profits are

accounted for with any other personal income the owner may have accumulated and taxed at the owner's personal income tax rate.
A) true
B) false
Business
1 answer:
Lilit [14]3 years ago
7 0

Answer:

The correct answer is option A.

Explanation:

A sole proprietorship is a business structure where there is a single owner. The business and owner are not separate entities. The business owner has unlimited liabilities. The business though does not have to pay corporate taxes.  

The profits of a sole proprietorship are passed through to the owner and taxed at the owner's personal tax rate. The sole proprietors are required to estimate their taxes and make quarterly payments to the government or suffer penalties for nonpayment.

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The current assets of Margo Company are $300,000. The current liabilities are $100,000.The current ratio expressed as a proporti
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Answer:

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3 years ago
Tops burger, a ________ based in amarillo, texas, has restaurants in 25 countries. multinational organization foreign firm congl
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4 years ago
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Answer:

The Answer is:

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Explanation:

I got it right trust

4 0
3 years ago
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