Which of the Following Is TRUE About Sole Proprietorships

question 44

Multiple Choice

Which of the following is TRUE about sole proprietorships?

• A) Just as corporations, they must abide by human rights legislation and meet health and safety regulations for the employees.
• B) Sole proprietorships require government formalities to get established.
• C) Business names of all sole proprietorships must be registered.
• D) Generally they are subject to different regulations than are other forms of business.
• E) Sole proprietorships comprise the smallest number of businesses in Canada.

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Definitions:

Malaysian Ringgits

The currency of Malaysia, symbolized as MYR.

Nominal Exchange Rate

The nominal exchange rate is the rate at which one country's currency can be traded for another's, not adjusted for inflation.

Nominal Exchange Rate

The rate at which one currency can be exchanged for another without adjusting for inflation, representing the current market price.

Schillings

A former unit of currency in Austria before the euro and also used in several other countries historically.