Kgomotso Lerole is a young upcoming entrepreneur from Soshanguve Township in Tshwane Municipality. Kgomotso used all the money she saved while working as a beauty therapist on a passenger liner to open a beauty spa (sole proprietorship) in a township. Her Lerole Health and Beauty Spa was so successful that she decided to open another spa in Atteridgeville. Which of the following are the disadvantages that come with the type of ownership of Kgomotso’s business?

i. It is the easiest and less expensive to set up.

ii. The owner endures unlimited liability for any losses sustained by the business.

iii. The owner must provide all the expertise necessary to make the business a success.

iv. The owner must comply with a number of formalities and legal requirements for the establishment of a sole proprietorship.

Choose the correct combination below.