Answer:
b. Income from both sole proprietorship and partnerships that is taxable is treated as individual income.
Explanation:
The correct choice is b according to the following statements. Because income from both the sole proprietorship and the partnership is treated as individual income because there are no specific tax levels or separate tax rates, the income generated in these types of business should be reported in their individual income tax returns.
Therefore, all other statements given are wrong as a general partnership is completely different from the company plus partnership is not the most complicated type of business. Not all business organizations have by-laws nor limited lives for sole ownership, but the partnership has also limited lives.
Answer:
The question is not complete, however, i think the concluding part of the question should be:
"What product line should Under Armour pursue?"
The answer to that Under Armour should pursue <em>their new line of compression shirts.</em>
Explanation:
Comparing the two new product lines, that is, moisture-wicking compression shirts with long stitching for durability and punching bags and punching mitts, it can be observed that:
- The punching bags and punching mitts product line is for a niche population of users in the market, while the compression shirts will be usable by all the population within the market.
- The moisture-wicking compression shirts have a specific advantage of durability, because of this factor, customers will be eager to try out this new product with cool features. While the punching bags and mitts are just like that of any product in the market space.
Therefore, Under Armour will be wise to pursue the product line of the moisture-wicking compression shirts.