Identify the correct statement about a sole proprietorship.
A. The owner shares responsibility with the agents and employees.
B. Employees of the business are not the personal employees of the owner.
C. It may be operated under an assumed or trade name.
D. The salaries paid to the employees are not deductible in determining taxable income.
Answer: C
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The traditional value chain adopts a ________ oriented approach
A) company B) customer C) service D) competitor
When performing vertical analysis of a balance sheet, the base amount is ________.
A) total assets B) total cash and cash equivalents C) net income D) gross profit
The issuance of common stock for cash is shown as a ________.
A) negative cash flow in the investing activities section of the statement of cash flows B) positive cash flow in the investing activities section of the statement of cash flows C) negative cash flow in the financing activities section of the statement of cash flows D) positive cash flow in the financing activities section of the statement of cash flows
Independent retailers are characterized by _____
a. a partnership form of organization b. a franchise form of distribution c. vertical integration d. ownership of only one retail unit