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Tom has transferred his business to Tom Ltd, a company limited by shares. Which of the following statements is correct? A Tom Ltd is fully liable for all debts and liabilities of the business incurred after the date of transfer. B Tom is fully liable for all debts and liabilities of the business incurred after the date of transfer. C Tom and Tom Ltd are jointly liable for all debts and liabilities of the business incurred after the date of transfer. D Tom Ltd and its shareholders are fully liable for all debts and liabilities incurred after the date of transfer.