1.Which of the following statements concerning a sole proprietorship is correct? A. A sole proprietorship is designed to protect the personal assets of the owner. B. The profits of a sole proprietorship are subject to double taxation. C. The owner of a sole proprietorship is personally responsible for all of the company's debts.

2.

For consumer loans that are amortizing, periodic payments consist of:

A. interest payments only. B. principal payments only. C. both principal and interest payments.

3. Mitchell Huntzberger recently sold his holdings in the stock market for $427,635 and is planning to invest the proceeds in a 3 year bank certificate of deposit with a rate of 4.15%. The amount Mitchell will have when the certificate matures is closest to: A. $483,115.61. B. $452,958.83. C. $378,525.74.

4. Paul Lennon, DDS, has $35,675 to place in a retirement account today. He plans to add $740 a month to the account until he retires in 18 years. He'd like to have $450,000 when retires. The rate Dr. Lennon needs to earn to reach his goals is closest to: A. 7.10%. B. 14.33%. C. 27.35%.