QUESTION 15 Which Which of the following statements is correct about a sole trader? a. Pays corporation tax on business profits b. Must register his/her business as a separate legal entity C. Must provide a profit share to employees d. Is liable personally for the consequences of any legal action against the busines

SWFT Corp Partner Estates Trusts
42nd Edition
ISBN:9780357161548
Author:Raabe
Publisher:Raabe
Chapter1: Understanding And Working With The Federal Tax Law
Section: Chapter Questions
Problem 5DQ
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QUESTION 15
Which Which af the following statements is correct about a sole trader?
a.
Pays corporation tax on business profits
b.
Must register his/her business as a separate legal entity
C.
Must provide a profit share to employees
d.
Is liable personally for the consequences of any legal action against the busines
Transcribed Image Text:QUESTION 15 Which Which af the following statements is correct about a sole trader? a. Pays corporation tax on business profits b. Must register his/her business as a separate legal entity C. Must provide a profit share to employees d. Is liable personally for the consequences of any legal action against the busines
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