Which of the following statements is false:Group of answer choicesPartnerships are limited to 200 individual partnersA sole trader has unlimited liability as its only one personNone of the statements are falseOnly some companies have their shares traded on the share market

Which of the following statements is true?a.A partnership has between two to twenty ownersb.A company has unlimited liabilityc.A sole trader has limited liabilityd.A company can have a maximum of 100 owners

Which of the following statements are FALSE? Select all that apply.Group of answer choicesA shareholder of a company may hold shares beneficially or as nominee in AustraliaThe ‘chain of corporate entities’ may be located in different jurisdictions or countriesA nominee shareholder may not be a companyPeople with an interest in a company are defined as those who own 25% or more of the sharesIn Australia, a bearer share certificate can be used to transfer legal and beneficial ownership of an Australian company

True or False. Partners within a partnership have unlimited liability.True1False

True or false. A sole trader has unlimited liability.False1True

Which of the following statements is INCORRECT?Group of answer choicesPartners have a duty to act in good faith in the best interests of the partnershipPartners are agents of each otherPartners receive a share of the product of the undertakingPartners are jointly liable for contract entered into on behalf of the partnership