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.