Which of the following is true of creating a sole proprietorship?
A. No state government approval is required.
B. A sole proprietorship is subject to double-taxation.
C. No licenses are required to do business within a city or state.
D. Special permission must be obtained to receive sole proprietorship status.
Answer: A
You might also like to view...
Jose Consulting paid $880 cash for utilities for the current month. Determine the general journal entry that Jose Consulting will make to record this transaction.
A.
| Cash | 880? | |
| Accounts Payable | 880? |
B.
| Utilities Expense | 880? | |
| Cash | 880? |
C.
| Utilities Expense | 880? | |
| Accounts Payable | 880? |
D.
| Prepaid Utilities | 880? | |
| Accounts Payable | 880? |
E.
| Cash | 880? | |
| Utilities Expense | 880? |
The following information relates to Bloomberg Manufacturing's overhead costs for the month
Static budget variable overhead $14,200 Static budget fixed overhead $5,600 Static budget direct labor hours 1,000 hours Static budget number of units 5,000 units Bloomberg allocates manufacturing overhead to production based on standard direct labor hours. Bloomberg reported the following actual results for last month: actual variable overhead, $14,500; actual fixed overhead, $5,400; actual production of 4,700 units at 0.22 direct labor hours per unit. The standard direct labor time is 0.20 direct labor hours per unit. Compute the variable overhead efficiency variance. (round the answer to the nearest dollar) What will be an ideal response
The size of each payment required to amortize an adjustable interest rate mortgage (ARM) may remain constant even though the adjustable interest rate may increase from time to time
Indicate whether the statement is true or false
Demand reaches total saturation in which of the following stages of the industry life cycle?
A. Embryonic B. Growth C. Shakeout D. Maturity E. Decline