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Questions and Answers
What is a sole proprietorship?
What is a sole proprietorship?
- A public company traded on the stock exchange
- A corporation owned by a group of people
- A partnership between several professionals
- An unincorporated business owned by one individual (correct)
Which activity is a sole proprietorship not allowed to engage in?
Which activity is a sole proprietorship not allowed to engage in?
- Managing business operations
- Offering services
- Selling products
- Passive investing in bonds or GICs (correct)
What business structure is most common for professionals such as doctors and lawyers today?
What business structure is most common for professionals such as doctors and lawyers today?
- Incorporation (correct)
- Partnerships
- Cooperatives
- Sole proprietorships
What is the primary characteristic of a sole proprietorship?
What is the primary characteristic of a sole proprietorship?
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What is the distinct attribute of running a business as a sole proprietorship?
What is the distinct attribute of running a business as a sole proprietorship?
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What kind of investing is a sole proprietorship not allowed to engage in?
What kind of investing is a sole proprietorship not allowed to engage in?
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Who traditionally operated as sole proprietors or partners in the past?
Who traditionally operated as sole proprietors or partners in the past?
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What is the most common business structure today?
What is the most common business structure today?
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