Question: Which statement is wrong? 1. A company based on shares must prepare financial statements. 2. For the establishment of a limited company the owners must

Which statement is wrong?

1. A company based on shares must prepare financial statements.

2. For the establishment of a limited company the owners must pay their contribution.

3. A partnership comes with joint liability of the partners.

4. A sole proprietorship must prepare a balance sheet and an income statement.

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