Entrepreneurs should always ________.
A) Keep records, file returns, and pay taxes on time
B) Ask to be audited by the IRS
C) Pay self-employment tax
D) Avoid expenses
Question 2
The free market system is also called capitalism and is characterized by all of the following attributes except ________.
A) Individuals and companies may compete for their own economic gains
B) Private property ownership and wealth are permissible
C) Free market forces determine prices
D) Government is expected to help regulate the market
E) All of the above are attributes