Aaliyah is a sole proprietor who is creating a single-member limited liability company. All of the following statements about the assets and liability of her business are correct EXCEPT:

1) All of Aaliyah's existing business debt will automatically transfer to the LLC when the LLC is registered with her state government

2) Because Aaliyah personally owns all of the assets, she may convert them to personal use.

3) Aaliyah should transfer the nonresidential real property she owns into the LLC name.

4) Aaliyah should not use personal bank accounts for the business. Instead , she should open accounts using the employer identification number and name of the LLC.