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| Which of the following are differences between sole traders and limited liability companies? (1) A sole trader’s financial statements are private and never made available to third parties; a company’s financial statements are sent to shareholders and may be publicly filed (2) Only companies have share capital (3) A sole trader is fully and personally liable for any losses that the business might make (4) Drawings would only appear in the financial statements of a sole trader A.1 and 4 only B.2, 3 and 4 C.2 and 3 only D.1, 3 and 4 |
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