| Statement |
Advantage |
Disadvantage |
| a)Does not require a certificate of trading to start its operations. |
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| b)Shares can only be transferred to close relatives with the consent of other shareholders. |
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| c)Has a continuous life independent of it's owners. |
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| d)Requires more legal formalities as compared to unicorporated business units. |
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| e)Has limited capital due to inability to sell shares to the public. |
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| f)It is a seperate legal entity. |
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