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Q: Which type of business earns huge profits?
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Which type of business does the owner not have to share any profits?

privately owned business owners share no profits. they pay taxes and that is not sharing profit.


This type of business organization has one or more individuals sharing in profits?

A partnership is a business where two or more people come together to start and run a business. Some of the attributes of this type of business is that two or more people share in the profits and losses.


What is cyclical business?

a type of bike used during the discussion of profits.


This type of business organization has one or more individuals sharing in this profits?

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What type of tax must a business pay on its profits to the federal government and some state and local governments?

corporate tax


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What type of tax must a business pay on it's profits to the federal government and some state and local governments?

corporate tax


Identify the main goals and functions of US Business?

The main goal of most of the US business is to make profits. Depending with the type of business, the US businesses have the role of providing certain goods and services to its customers.


What are the characteristics of single proprietorship?

A single proprietorship is a business that is owned by one person. This person is responsible of all expenses and taxes of the business and all profits from the business belong to this person. This particular type of business requires less paperwork and entails less restrictions than others.


When the owner issues a check to pay their bill known as a draw what happens?

As a business owner, you may be paid a salary, or you might take a draw as an owner. How you receive money from the business depends on the type of business. If you are an owner of a sole proprietor business, you can take a draw from the business for personal expenses. This draw is not a deductible business expense; it's just money you take from profits (assuming there are profits!) to pay personal bills. When you take a draw, you should write a check to yourself from the business checking account and deposit it in your personal checking account.


What is a type of checking account that also earns interest these accounts generally have a minimum balance?

A type of checking account that also earns interest is called an interest-bearing checking account. These accounts typically require a minimum balance to be maintained in order to earn interest.