Reid Ramirez
08/12/2024 · High School
Which of the following are differences between sole traders and limited liability companies? \[ \begin{array}{l}\text { i. A sole trader's financial statements are private; a company's } \\ \text { financial statements are sent to shareholders and may be publicly } \\ \text { filed. } \\ \text { ii. Only companies have capital invested into the business. } \\ \text { iii. A sole trader is fully and personally liable for any losses that the } \\ \text { business might make; a company's shareholders are not personally } \\ \text { liable for any losses that the company might make. }\end{array} \] (i), (ii) and (iii) (i) and (iii) only (ii) and (iii) only
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The correct answer is (i) and (iii) only.
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