Rationale: In a limited company, the owners (shareholders) are separate from the managers of the concern (board of directors).Pitfalls: Some options look plausible because of the wording. 'Limited' doesn't mean 'only being allowed to trade up to' - but looks as if it might. The second half of the statement about partnerships is true - but this doesn't mean that the first
half is also true.Ways in: You should have been able to rule out A (no company's turnover is limited), C (sole traders do have personal liability for debts: they do not have 'limited liability') and D (ordinary partnerships are different from limited companies)
