Question 8 Mama Mia set up & Company, a sole proprietorship business. Which of the following assertions applies to PH & Company A. YMK Co. is a business entity, not a legal entity and has limited life 5. M & Co. has limited life, is a business entity and has limited liability C. MH & Co. can file tax return in own business name and has limited life but unlimited liability D. MM & Co. does not have unlimited life or limited liability but can sue ABC Co. in its own name a MM & Co. does not have unlimited lide or limited liability but can sue ABC Co. in its own name MM & Co. can file tax return in own business name and has limited life but unlimited liability MM & Co. is a business entity, not a legal entity and has limited life MM & Co. has limited site, is a business entity and has limited liability Oc Od Question 6 In the COSO framework, the term risk tolerance refers to A. Level of risk an organization is willing to accept. 8. Acceptable variation with respect to a particular objective. C. Risk of an event after considering management response. D. Events that require no risk response. O. O O V Acceptable variation with respect to a particular objective Risk of an event after considering management response. Level of risk an organization is willing to accept Events that require no risk response