Economics · Financial Accounting

Which of the following are differences between sole traders and limited liability companies? 1. A sole trader's financial statements are private; a company's financial statements are sent to shareholders and may be publicly filed. 2. Only companies have capital invested into the business. 3. A sole trader is fully and personally liable for any losses that the business might make. 4. Revaluations can be carried out in the financial statements of a company, but not in the financial statements of a sole trader.