Question: Appleton used to operate her business as a sole trader entity. She has recently converted it into a limited liability company. Appleton owns 80 per

Appleton used to operate her business as a sole trader entity. She has recently converted it into a limited liability company. Appleton owns 80 per cent of the ordinary (voting) shares, the remaining 20 per cent being held by various relatives and friends. Explain to Appleton why it is now inaccurate for her to describe the company as 'her' business.

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1 As far as Appleton is concerned it is understandable if she still refers to the business as hers f... View full answer

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