After completing a Diploma of Cosmetics, Samantha opened her new business, Beauty Cosmetics. Samantha hired Megan and they both provide cosmetic services to customers. Samantha loves her new business as she controls everything and enjoys all the profit Answer the following questions in the spaces provided below. 1. What business structure is Samantha's business? (1 mark) 2. Do you think that Samantha would have Limited or Unlimited Liability? (1 mark) 3. Based on your answer above; (in 2.), state whether this would be an advantage or disadvantage and explain why this would be. (2 mark). 4. Based on the content covered in the Unit, name two functions of the business. (2 mark) 5. Samantha uses business money to pay for a family party. In the accounting records she has opened an account titled 'Entertainment! Can Samantha treat the family party fees as a business expense? What would be the correct way of accounting for the family party fees? (2 marks) 6. Inventory with a cost of $40,000 is reported at its market value of $50,000. How much should be the value of Inventory in his records? (1 mark)