Ivan is the sole proprietor of Voyageur Transport.He operates Voyageur with three small ships that transport supplies by the riverways to northern settlements after spring breakup.With respect to Ivan's use of "Voyageur Transport," which of the following most likely applies?

Question

Quizplus · Accepted Answer

As a sole proprietor, Ivan is not required to formally register his business with the government. However, using a business name other than his own legal name requires registration to avoid fines and penalties for operating an unregistered business. Therefore, option B is the most likely to apply. Option A is incorrect because there are no specialized rules for sole proprietorships. Option C is incorrect since a business name can be relevant for legal purposes, including the ability to sue or be sued. Option D is also incorrect because there are minimal legal requirements for sole proprietorships.

Ivan Is the Sole Proprietor of Voyageur Transport