1 point are commonly referred to as the of an organisation that may not always be precise. For small business such as sole proprietorship and partnership, normally is managed by its owners. The _will, however, select professionals to run their business in a bigger corporation. The represent the agents. Which of the following is in a correct order? as Managers, owners, shareholders or owners, managers, shareholders or owners Shareholders or owners, owners, shareholders or owners, managers, shareholders or owners Owners, shareholders, shareholders or owners, managers, shareholders or owners O None of the above What is the main disadvantage of a sole proprietorship?* 1 point No legal obligation to keep the books and prepare accounts Manage and control by the owner Unlimited liability Profit belongs to the owner 1 point Which of the following statement is correct regarding a partnership business structure? Owned by only one person Limited liability Registered with the Registrar of Companies under the Companies Act 2016 Owned by 2-50 partners for professional business services 1 point Record-keeping is mandatory, high ongoing operating expenses and require tax returns to be filled. The above limitation is referring to what type of business? * Sole proprietorship Partnership Premiership Limited Companies