Please answer questions with clear explanation. Thank you.

1. The decision by a company to obtain capital funding usually involves a choice between debt funding and equity funding.

Required: Explain, in general terms, the distinctions between debt funding and equity funding, and briefly explain why debt funding might be more advantageous for a company than equity funding.

2. The Companies Act imposes various duties on directors in relation to accounting records, financial statements, and audit.

Required: Discuss those duties in general terms and possible civil consequences for directors failing to perform those obligations, citing relevant case law.

3. How does the law attribute mens rea (ie criminal fault) to companies for the purposes of the criminal law?