When selecting board members, it is advised that

Select one:

a. they be close friends of relatives of the entrepreneur.

b. candidates be subjected to background checks.

c they be willing to commit to the venture's mission.

d. they have senior level executive positions in the industry.

When a business has no tax liability, this means that it is

Select one:

a. claiming more deductions than it should.

b.making large profits.

c.losing money.

d.not filing income taxes regularly.

In a proprietorship or partnership, payment to the owner is treated as

Select one:

a. salary expense for the business.

b.bonus payments to the owner.

c. a drawing from the business and is not a deductible expense.

d.a corporate dividend.

An increased depreciation rate is

Select one:

a. not allowed.

b.allowed under a government accelerated capital cost allowance program.

c.available to start-up businesses when needed to reduce income taxes owing.

d. only available in an election year.

SBD stands for

Select one:

a. Small Business Directors' Liability Program.

b. Small Business Design Initiative.

c Small Business Development Act.

d.Small Business Deduction.