Which business unit(s) does not legally exist as a separate entity. (i) A sole trader (ii) Partnerships (iii) Companies

(i) A sole trader: This is a type of business entity that is owned and run by one individual and where there is no legal distinction between the owner and the business. It does legally exist as a separate entity.

(ii) Partnerships: This is a type of business entity in which partners (owners) share with each other the profits or losses of the business undertaking in which all have invested. It does legally exist as a separate entity.

(iii) Companies: This is a type of business entity that is made up of an association of people, be they natural, legal, or a mixture of both, for carrying on a commercial or industrial enterprise. It does legally exist as a separate entity.

Therefore, all the business units mentioned (sole trader, partnerships, and companies) do legally exist as separate entities.