A sole proprietorship exists when an individual doesn't carry on a business for their own account and doesn't involve their employees.

A sole proprietorship exists when an individual carries on a business for their own account without the involvement of other individuals, except for their employees.

A sole proprietorship exists when an individual carries on a business for their own account with the involvement of other individuals and their employees.

A sole proprietorship exists when an individual carries on a business for their own account without the involvement of other individuals and their employees.

No benefits flowing from the business, such as income and assets, accrue exclusively to the sole proprietor, and correspondingly, no obligations including losses and contractual and tortious liability associated with the business are also the sole proprietor’s responsibility.

No benefits flowing from the business, such as income and assets, accrue exclusively to the sole proprietor, however, all obligations including losses and contractual and tortious liability associated with the business are also the sole proprietor’s responsibility.

All benefits flowing from the business, such as income and assets, accrue exclusively to the sole proprietor, and correspondingly, all obligations including losses and contractual and tortious liability associated with the business are also the sole proprietor’s responsibility.

All benefits flowing from the business, such as income and assets, accrue exclusively to the sole proprietor, however, no obligations including losses and contractual and tortious liability associated with the business are also the sole proprietor’s responsibility.

No, there are no limited liability protection. This is why it is recommended that sole proprietors get into contract with their clients or obtain an insurance policy.

No, there are no limited liability protection. However, a sole proprietor shouldn't consider getting into contract with their clients or obtain an insurance policy.

No, there are no limited liability protection. This is why it is recommended that sole proprietors get into contract with their clients, but don't have to consider obtain an insurance policy.

Yes, there are limited liability protection. Therefore, sole proprietors don't have to worry about getting into contract with their clients or obtain an insurance policy.

File an election with MNR and obtain their approval.

File an election with the MNR, LSUC & CRA and obtain their approval.

File an election with LSUC and obtain their approval.

File an election with CRA and obtain their approval.

It ensures there is no double taxation of previously reported income from the past 20 years.

It ensures there is no double taxation of previously reported and taxed income.

It ensures there is no double taxation of previously unreported income.

It ensures there is a double taxation of previously unreported income to LSUC.

20, 10, 7 & 5 years back.

10, 5, 1 & 2 years back.

20, 10, 7 & 3 years back.

25, 10, 5 & 3 years back.

20 and 3 years back.

7 forward and 3 years back.

10 forward and 3 years back.

Indefinitely forward and 3 years back.

Federal licensing requirements.

Federal, provincial and municipal licensing requirements.

Municipal licensing requirements.

Provincial licensing requirements.

Under their own name, unless it has been registered.

Under their own name, so long it has been registered.

Any name, other then their own name.

Any name the sole proprietor desires. No registration is needed.

Leave from the court and LSUC.

Leave from the Crown.

Leave from LSUC.

Leave from the court.

A sole proprietor can sue or be sued in the name of any choice.

A sole proprietor can sue or be sued in the name of that the sole proprietor registered.

A sole proprietor can sue or be sued in the name of the sole proprietor.

A sole proprietor can sue or be sued in the name of that LSUC has approved.

When only two individuals, carry on business together with a view to profit, the relationship is called a partnership, and the members of the partnership are called partners.

When only two corporations, carry on business together with a view to profit, the relationship is called a partnership, and the members of the partnership are called partners.

When only two persons, carry on business together with a view to profit.

When two or more persons, whether individuals or corporations, carry on business together with a view to profit, the relationship is called a partnership, and the members of the partnership are called partners.

General, ultimate and limited liability.

Limited, limited liability and ultimate.

General, limited and limited liability.

General, limited and ultimate.

General and limited.

General and limited liability.

General and ultimate.

Limited and limited liability.

Limited liability partnership.

Limited partnership.

General partnership.

Ultimate partnership.