business entity

please answer this ques :
– If someone wants to set up in business and
wants to protect his personal assets in the event of the business failing.
What type of business entity should he set up in these circumstances?
.sole trader
.partnership
.limited liability company.
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second Ques: A company’s bank statement at 31 march 20×7 showed a balance at bank of $ 1350. When reconciling the bank statement balance with the cash book, the following items were discovered :
(i) Bank charges of $ 75 has been charged by the bank.
(ii) the company had recorded the receipt of a cheque of $ 150 as a payment in the cash book.
(iii) A cheque of $ 125, drawn by the company, had not yet been presented by a supplier.
What is the correct bank balance to be shown in the company’s balance sheet at 31 March 20×7?
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Third ques: the following are sales tax totals for the first trading period of a firm:
sales tax on :
sales———–$ 4,900
purchases——$ 3,200
returns outwards———$ 245
returns inwards———-$320
What is the balance on the sales tax account after these transactions have been posted ?
(i) $ 1625 Dr
(ii)$ 1775 Dr
(iii)$ 1776 Cr
(iv)$ 1625 Cr
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