Starting a new business as a sole proprietorship:
A)requires retaining the services of an attorney.
B)is usually simpler and less expensive than starting other forms of ownership.
C)is simple,but the proprietorship fee is very expensive in some provinces.
D)is very similar to starting a business as a corporation.

Question

Quizplus · Accepted Answer

Starting a business as a sole proprietorship is usually simpler and less expensive than starting other forms of ownership. While it may be advisable to consult with an attorney for certain legal matters, it is not a requirement for starting a sole proprietorship. The proprietorship fee varies by province, but it is generally not excessively expensive. Starting a business as a corporation is a different process with different requirements.

Starting a New Business as a Sole Proprietorship