How does the owner of a sole proprietorship relate to the business?
A) The assets of the owner are considered separate from the assets of the business.
B) The owner and the business are not separate legal entities.
C) The owner and the business are separate legal entities.
D) None of these describe the legal relationship of the owner to the business.
B
You might also like to view...
What is the "medium of exchange" function of money?
a. Money provides a unit for measurement of different goods and services. b. Money has the ability to hold value over time. c. Materials used to manufacture money are of medium grade or quality, so that people will not hoard money for its commodity value d. Money is widely accepted in exchange for goods and services
If a country's purchases of foreign assets exceeds foreign purchases of domestic assets, that country has
a. positive net exports and positive net capital outflows. b. positive net exports and negative net capital outflows. c. negative net exports and positive net capital outflows. d. negative net exports and negative net capital outflows.
The typical labor supply curve
A. equals the marginal product of labor. B. slopes down. C. is u-shaped. D. depends on the size of the firm. E. slopes up.
Suppose that a consumer is at an optimum consuming A and B. If the price of A falls, then to get to a new equilibrium the consumer must
A. purchase less A and more B. B. purchase more B. C. purchase more A. D. purchase less B and less A.