The proprietorship form of business organization
A) must have at least three owners in most provinces.
B) represents the largest number of businesses in Canada.
C) combines the records of the business with the personal records of the owner.
D) is characterized by a legal distinction between the business as an economic unit and the owner.

Question

Quizplus · Accepted Answer

Proprietorship, or sole proprietorship, is the simplest and most common form of business ownership in Canada, representing the largest number of businesses. It does not require a legal distinction between the business and the owner, nor does it combine business records with personal records in a formal sense. It typically involves only one owner, not a minimum of three.

The Proprietorship Form of Business Organization