Tim has a toenail clipping business that is a sole proprietorship. If he is sued for a botched pedicure
A) he has limited liability.
B) he has separation of ownership and control.
C) all of his personal assets are at risk.
D) he will be taxed doubly.
Answer: C
You might also like to view...
Where Y is GDP, C is consumption, I is investment, G is government purchases, and there is no international trade, national saving equals:
A. Y - C - G. B. Y + C + G. C. Y - C - I. D. C + I + G.
Refer to Figure 4-11. What is the value of producer surplus after the imposition of the price floor?
A) $3,000 B) $3,600 C) $4,200 D) $4,500
In a competitive market the current price is $5 . The typical firm in the market has ATC = $5.50 and AVC = $4.50
a. In the short run firms will shut down, and in the long run firms will leave the market. b. In the short run firms will continue to operate, but in the long run firms will leave the market. c. New firms will likely enter this market to capture any remaining economic profits. d. The firm will earn zero profits in both the short run and long run.
The recent experiences in Greece, Portugal, and Ireland make the euro
A. seem very unlikely to fail because of decreasing debt levels. B. seem very unlikely to fail because of increasing interest rates. C. seem somewhat likely to fail because of increasing debt levels. D. seem somewhat likely to fail because of increasing interest rates.