Which of the following statements best describes the legal requirements for conducting a sole proprietorship?
A) They are subject to the same general legislation as any other business form.
B) Unlike other business forms,they are unregulated.
C) They are governed by sole proprietorship legislation existing in each province.
D) They must be licensed under provincial legislation as sole proprietorships.

Question

Quizplus · Accepted Answer

Sole proprietorships are subject to the same general business laws and regulations as other business forms, such as tax laws and employment laws, but they do not require specific licensing or legislation unique to sole proprietorships.

Which of the Following Statements Best Describes the Legal Requirements