A sole proprietor has unlimited personal liability for all business debts and obligations.
<h3>Who is a
sole proprietor?</h3>
A sole proprietor is the owner of a sole proprietorship. A sole proprietorship is a type of business that is owned by one person.
A sole proprietor and the business are regarded as a single person under the law. Thus, a sole proprietor has an unlimited liability. An unlimited liability means that in event of default, both the e property of the business and the sole proprietor can be seized.
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The correct answer to this open question is the following.
Here we do not have a question. Just a statement.
What is your question? What do you want to know?
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If the government announces it will impose an indirect tax on the price of petrol because it wants to discourage travel by car and encourage the use of bus and rail services instead, it had to make sure that the impact will have the expected benefits because that could not always be the case.
Some other considerations need to be made for this to happen. For instance, if the government wants to dissuade people to use their cars, the government has to make sure that the public transportation system is in optimal conditions, it is safe to ride, and can guarantee the transportation times for people to be on time in their jobs.
Otherwise, people will still be driving their cars because they think that using cars is a more safe and better way to travel.
Public transportation also has to comply with strict pollution emissions controls.
Answer:
Gift tax is not an issue for most people
Explanation:
The person gifting files the gift tax return, if necessary, and pays any tax. If someone gives you more than the annual gift tax exclusion amount ($15,000 in 2020), the giver must file a gift tax return.
Answer:
As factors of production, the reward for land is rent, capital is interest, labour is wages and salaries and entrepreneur is profit.
Answer: See explanation
Explanation:
The balance of payment show tge transactions that occur between a country and another country.
a. The U.S. exports cars to be sold in Canada.
This is a financial capital inflow and the transaction is in the current account.
b. Pepsi buys a factory in Mexico.
This is a financial capital outflow and the transaction is in the financial account.
c. A Brazilian company buys an apartment building in Boston.
This is a financial capital inflow and the transaction is in the current account.
d. The central bank of China purchases a U.S. Treasury Bond.
This is a financial capital inflow and the transaction is in the financial account.
e. A businessman is paid dividends on the stock from a foreign corporation that he owns.
This is a financial capital inflow and the transaction is in the financial account.
