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1.Which one of the following statements is true?
ALimited company status means that a company is only allowed to trade up to a predetermined turnover level in any one year.
B For organisations that have limited company status, ownership and control are legally separate.
C The benefit of being a sole trader is that you have no personal liability for the debts of your business.
D Ordinary partnerships offer the same benefits as limited companies but are usually formed by professionals such as doctors and solicitors.
2.In the context of contract law,a bid at an auction is which of the following?
A. An invitation to treat
B. An offer
C. A counter-offer
D. An acceptance
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