Answer the following questions for both sole traders and companies:

(a) Is there any statutory regulation governing them?

(b) Who owns the business?

(c) Who manages the business?

(d) Is the business a separate legal entity?

(e) Does the business end when its owners change?

(f) Is taxation an expense of the business?

(g) How do owners extract profits from the business for their own use?

(h) Is the business quoted on the stock exchange?