After many years of working in a car dealership, Mona has decided to leave the company and start a small

business focusing on selling second hand cars. Unfortunately, Mona has not completed any accounting

related modules.

In response to this, Mona has come to you, a financial accounting student, requesting your assistance with

the below requirements:

Requirement:

a$)$ Mona is unsure of the type of business entity she should set up$.$ Therefore, she would like you to

explain the different types of business entities, identifying and discussing the main features,

advantages, and disadvantages of each business type.

Learners are encouraged to provide examples of the different types of business entities.