The lesson contrasts the degree of control and management across forms. Which statement best captures its position on control in a sole proprietorship versus a company?

1. The lesson treats control and management as the fifth factor. 2. In sole proprietorship and OPC, ownership, management and control are fully fused in one person. 3. In a company, the Board of Directors holds management and control on behalf of shareholders. 4. So ownership and management are separated in a company, but unified in proprietorship. _Source: ICSI CS Executive Paper 3 (Setting up of Business Entities and Closure) — Lesson 1: Choice of Business Organisation, pp. 2-11._