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Which of the following statements about the sole trader form of business structure is true? A sole trader must have the records of the business

Which of the following statements about the sole trader form of business structure is true? A sole trader must have the records of the business combined with their own personal records. A sole trader is bound by the formal requirements of accounting standards. A sole trader must have a separate bank account and an Australian Company Number (ACN). A sole trader claims all the profits if the business is sold

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