Businesses with partial knowledge of customers or competitors are less likely to employ reactive strategies

Which of the following is NOT a difference between sole trader and company financial statements?

a) A tax expense will be shown in company financial statements but not in sole trader financial statements. b) Sole trader financial statements show drawings as a deduction from capital, whereas company financial statements show dividends to shareholders. c) Expenses are more likely to be aggregated into categories in company financial statements, whereas they are less likely to be so in sole trader financial statements. d) Non-current assets are shown at the top of the statement of financial position in company financial statements, but not in sole trader financial statements.

A mortgage or deed of trust that an owner of real estate gives to obtain financing is an example of __________________________ lien.

Fill in the blank(s) with the appropriate word(s).