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Commerce Paper 1, May/June 2009  
Questions: 1 2 3 4 5 6 7 8 9 10 Main


General Comments
Strength
Weakness/Remedies





Question 2
Explain five benefits that would be derived and five losses that would be suffered when a
Sole trader admits other partners.

 

_____________________________________________________________________________________________________

observation

Few candidates who attempted this question performed averagely well in this question.
However some vital points were missing from the answers of most candidates. Some of
the expected answers include:
    (a)       Benefits to a Sole Trader
               (i)         Better decision making
               (ii)        Possibility of more profit
               (iii)       Greater degree of continuity etc
    (b)       Losses to Sole Trader
               (i)         The death of a general partner may collapse the business
               (ii)        Disagreement among members can affect the smooth running of the business.
                (iii)       Actions of a partner is binding on the firm. Therefore misconduct of an unscrupulous                              partner may ruin the business.


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