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Question 41 Identify the one INCORRECT statement concerning sole proprietorships: Not yet answered Select one: Marked out of O a. A sole proprietor is not vicariously liable for the acts of his employees. 1.00 O b. There are some advantages to sole proprietorships. Flag question O c. Sole proprietors' personal and business assets are one and the same. O d. A sole proprietorship is an individual carrying on business alone, in the sense that the business is that individual's sole responsibility. However, the business may be carried on through the services of an employee or agent. Question 42 Kelly and her mother have decided to open a pizzeria. Which of the following situations will not result in a partnership being formed? Not yet answered Select one: Marked out of O a Kelly and her mother agree to share the net returns from the business O b. Kelly and her mother share the management responsibilities of the business Flag question O c. Both Kelly and her mother contribute capital to establish the business. O d. Kelly borrows money from her mother to start the business, and agrees to repay the loan by paying her mother 50% of the profits each month. Question 43 Which one of the following would not be able to carry on business as a limited liabilty partnership in Alberta? Not yet answered Select one: Marked out of a. Bosko Dental Office. 1.00 O b. The law firm of Dewey Cheetum and Howe Flag question c. Grandview Medical Clinic. O d. A retail store specializing in vintage clothing