Usually, the Name of the Business Must Be Registered for a Sole

question 89

True/False

Usually, the name of the business must be registered for a sole proprietorship, and a licence to operate must be obtained from the appropriate level of government.

---

Definitions:

FOB Shipping Point

A term indicating that the buyer assumes responsibility for shipping costs and liability once the goods leave the seller's premises.

Legal Title

Legal ownership of property or assets, which includes the right to use, sell or transfer them.

FOB Shipping Point

A shipping term indicating that the buyer assumes transportation costs and risk of loss once the goods leave the seller's premises.

Consignee

The individual or entity designated to receive goods being shipped or transported, who may not be the actual owner of the goods until certain conditions are met.