What are the main differences between a sole propr...

Canadian Securities Course (CSC) Level 1 Practice Exam

Question Number 5

What are the main differences between a sole proprietorship and a partnership?

In sole props, only 1 person runs the business and is responsible for all the liabilities. In a partnership, only 1 person runs the business and is responsible for all the liabilities. In a partnership, there is no difference between the business's assets and the person's assets. In a partnership, two or more people run the business.

✔ Correct Answer:

In sole props, only 1 person runs the business and is responsible for all the liabilities.

Canadian Securities Course (CSC) Level 1 Practice Exam

Question Number 5

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