PayPal Setup

Hi, i am finding it difficult trying to find out a few things about setting up PayPal correctly…

PayPal seem to have so many different sites etc… and some of their explanations contradict each other…

01 - VERIFIED
A - what does it mean
B - what benefit does it give you
C - what are the steps involved in becoming verified (and what do i need to provide paypal with)
D - most importantly, how long does it usually take…
E - if i just upgrade to a business account, do i still need to become verified or does creating a business account actually verify you too

02 - PAYPAL BUSINESS
A - what does it mean
B - what benefit does it give you
C - what are the steps involved in upgrading to a business account (and what do i need to provide paypal with)
D - most importantly, how long does it usually take to be set up as a business account…

03 - REMOVING RECEIVING LIMITS ON A BUSINESS ACCOUNT
A - once i am set up as a business account, how do i remove all receiving limits
B - what are the steps involved (and what do i need to provide paypal with)
C - how long does the process usually take

Thanks in advance to anyone who can help out with all, or even some of the questions above…