Juan Is Starting a Software Writing Company

question 27

Multiple Choice

Juan is starting a software writing company.He is the owner and has only 3 employees.He wants a simple inexpensive form of ownership that leaves him in control and that he can quickly dissolve if he decides to change to another business.His best choice of form of ownership would be:

• A)S-corporation.
• B)partnership.
• C)corporation.
• D)sole proprietorship.

---

Definitions:

Companies Creditors Arrangements Act

A Canadian federal law providing financially troubled corporations the opportunity to restructure their affairs through a formal plan of arrangement.

Bankruptcy and Insolvency Act

Legislation that outlines the legal procedures for dealing with the debts of individuals and businesses in financial trouble.

Canadian Criminal Code

A legal document that codifies most criminal offenses and procedures in Canada, serving as the primary source for criminal law in the country.

Over-the-counter Market

A decentralized market without a central physical location, where market participants trade stocks, commodities, currencies, and other financial instruments directly between two parties without a broker's intermediation.