Observation

Most of the candidates were able to:

-           explain the term wood finishing.
-           list four types of  finishes used in joinery work.
However, few of them were unable to:

-           state four characteristics of a partnership type of business organization.  

   
The expected response to question 8 is as given below:

8 (a)        Explanation of the term wood finishing:

- Is the process of coating or polishing that gives a job its final appearance. It includes surface preparation, such as planing and sanding for the application of polish.
This serves as protection and decoration to the wood surface.

(b)        Types of finishes used in joinery works:

• lacquer;
• varnish;
• plastic finishes;
• oil finishes;
• wax;
• French polish;
• enamel paint;
• oil paint.                                       

  (c)      Characteristics of a partnership business organization:

• The partnership:- Is owned by two to twenty persons;
• Capital required to set up the business is provided by partners based on legal agreement;

• Liability:- The partners have unlimited liability;

• Life span:-The life span of the partnership depends on the agreement signed by the partners involved;

• Legal entity:- It is not a legal entity as the partners are not separated from the    business;
• Management:- This business is controlled and managed by the partners;

• Objective: The main objective of partnership is to make profit.

(d)       Sources of fund for a sole proprietorship

• Personal savings;
• Gifts from family members;
• Gifts from friends;
• Inheritance;
• Soft loans;
• Take-off capital from government;
• Bank loans;
• Co-operative loans;
• Sale of assets.