1. Which of the following is not true about incorporation? (1 Point) Incorporation occurs with registration under a statute. Incorporation creates a separate legal entity which exists in its own right. Some business structures are incorporated and others do not All business structures are incorporated. 2. All sole traders (1 Point) have to register their business names operate micro businesses have to comply with many laws but there is no specific statute that deals with soletraders cannot have employees 3. Sole traders (1 Point) pay tax at individual tax rates on business income must register for GST regardless of their GST turnover raise money to fund the business only from their own resources have limited liability