1. A sole proprietor does not need legal assistance to register a proprietorship. _______
2. Unlimited liability means all business and personal assets may be at risk for a business liability. ______
3. A sole proprietor does not have the responsibility of vicarious liability. ______
4. Sam and James opened up an accounting business together. They shared office space and administrative staff. However, they had separate clients. If Sam cheats on his client, then James is not responsible. ______
5. A corporation is a separate entity with the legal abilities of a natural person. _____
6. A business can incorporate either provincially or federally. _____
7. Shares represent a shareholders' ownership interest in a corporation. _____