General Studies · Business Organizations
Which of the following statements is true regarding different business structures?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Ordinary partnerships offer the same limited liability benefits as limited companies but are usually formed by professionals.
- 2The benefit of being a sole trader is that you have no personal liability for the debts of your business.
- 3For organisations that have limited company status, ownership and control are legally separate.✓
- 4Limited company status means that a company is only allowed to trade up to a predetermined turnover level in any one year.
Correct answer
For organisations that have limited company status, ownership and control are legally separate.
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