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Questions and Answers
What is a key step in starting an online business according to the text?
What is a key step in starting an online business according to the text?
- Conducting market research and developing a business plan (correct)
- Filing paperwork to register the organization
- Choosing a physical location and designing a website
- Building up target market through traditional marketing means
How does having a business name relate to the owner's liability according to the text?
How does having a business name relate to the owner's liability according to the text?
- Having a business name does not separate the business entity from the owner, making the owner responsible for debts incurred by the business (correct)
- Having a business name limits the liability of the owner to debts incurred by the business
- Having a business name has no impact on the owner's liability
- Having a business name completely separates the business entity from the owner, absolving the owner of any liabilities
How does the taxation system for businesses differ from that of corporates according to the text?
How does the taxation system for businesses differ from that of corporates according to the text?
- Corporates are exempt from taxation while businesses are not
- Businesses are taxed at a higher rate compared to corporates
- The taxation system for businesses and corporates is identical
- The taxation system for businesses is different from that of corporates, implying different tax rates and regulations (correct)
What is emphasized as crucial before launching a business according to the text?
What is emphasized as crucial before launching a business according to the text?
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What is mentioned as a responsibility of the owner in case of business debts according to the text?
What is mentioned as a responsibility of the owner in case of business debts according to the text?
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