28 Identify the one incorrect statement concerning sole proprietorships. Select one a. A sole proprietor can limit his/her liabity by putting LLP at the end of its name -eg Joseph Blow Catering LLP O b. Any profit derived from a sole proprietorship is subject to personal income tax OC. A sole proprietor is vicariously liable for the acts of his employees Od. Sole proprietors may carry on business under a trade name their own name need not form part of the business name 29 Which one of the following statements about forms of business organization is TRUE? out of Select one a. Registration is required to create all forms of business organization Ob. Only corporations are vicariously liable for the forts of its employees C A sole proprietor is exempt from laws govering business licences and income tax d. Both sole proprietors and partners face unlimited personal liability on 30 With regard to limited partnership which of the following statements is false? out of Select one a Almited partnership is an arrangement in which a partner may limit his liability to his capital contribution b. A limited partner who takes an active part in the management of the firm becomes able for the fun's losses together with the other general partners OC A limited partner has unlimited liability for the debts of the firm Od A limited partnership is formed once a certificate is completed by the partners and is registered by the Registrar