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| Which of the following statements are true? (1) Those charged with governance of a limited liability company are responsible for the preparation of the financial statements of that company (2) In a sole tradership, the liability of the owner is restricted to the amount originally invested by that owner (3) In law, a partnership is legally a separate entity from its owners, the partners (4) The separate entity concept means that the transactions of the business are treated separately from the transactions of the owners of the business A 1 and 2 only B 2 and 3 only C 1,2 and 4 D 1 and 4 only |