Asked by
Kionna Hooks
on Nov 06, 2024Verified
Catalina owns a small restaurant and is solely responsible for its debts and liabilities.She is also entitled to all the profits the restaurant makes after paying off taxes and other expenses.Her business is an example of a(n) :
A) joint venture.
B) S corporation.
C) sole proprietorship.
D) partnership.
E) C corporation.
Profits
The financial gains obtained after subtracting all expenses, taxes, and costs from the revenue generated by a business or investment.
- Apprehend the significant characteristics of sole proprietorships, which involve their extent, obligation, and dominion.
- Elaborate on the principle of unlimited liability and pinpoint the types of enterprises it affects.
Verified Answer
SM
Learning Objectives
- Apprehend the significant characteristics of sole proprietorships, which involve their extent, obligation, and dominion.
- Elaborate on the principle of unlimited liability and pinpoint the types of enterprises it affects.
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