Question 10Steve has opened a sole proprietorship bicycle shop. The business shows a net income of $100,000.Steve took a salary of $40,000. The remaining money is left in the bank.
Selected Answer:at tax time Steve pays taxes on $140,000Answers:at tax time, the business pays taxes on $100,000 and Steve pays taxes on $40,000
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12/10/2016
Review Test Submission: Chapter 16 Quiz – FA2017BADM...
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Saturday, December 10, 2016 12:22:40 AM CST
at tax time the business pays taxes on $140,000at tax time Steve pays taxes on $140,000at tax time the business pays taxes on $70,000 and Steve pays taxes on $70,000
Question 11Which of the following makes sole proprietorship a less desirable form of organization?
Question 12
A disadvantage of the sole proprietorship is:
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