1.Ms Ming has been a sole trade for over a decade. Recently she decided to change her business structure from a sole trader to a company. She has registered a private company - Ming Pty Ltd. Ming is a director to her company. Ming thinks that she can go with anything she wishes under her company and she is not afraid of any liability personally as the company is incorporated as a limited liability company. Advise Ming if in any way, she may be held responsible for the liability of the company.