7. Which of the following is not true about trusts? (1 Point) No separate legal entity is created by the trust itself, The trustee is a fiduciary There is no separation of legal and beneficial ownership of the truth property. Limited liability companies can be appointed as trustees. 8. Which of the following is true about trusts? (1 Point) The trustee holds property in trust for the beneficiaries. Continuity of existence is a disadvantage. The trustee is not entitled to remuneration from the trust fund Trusts are creatures of statutory law. 9. In a joint venture (1 Point) Co-venturers act as agents for each other Assets are held separately Co-venturers are responsible for the acts of the other venturers Co-venturers have unlimited liability for debts and obligations arising from se venture project