1. However , the Companies Act 1981 ( now consolidated into the 1985 Act ) permitted greater relief from publication of accounts for small private limited companies.(WASPS)
2. The main advantage of alimited company is that in general only the company and not the individual is liable for the business debts.(BNCI)
3. The principal disadvantage is that a limited company invariably incurs some additional costs. (BNCI)