Question 7
- Distinguish between a broker and a factor.
- State three duties of an employer to an employee.
- State four duties of an employee to an employer.
Observation
Most of the candidates who attempted the 7a got it wrong.
(a) A broker is a commercial agent who does not take possession of the goods while a factor is an agent who takes possession of goods. The broker receives commission known as brokerage while the factor receives commission known as factor age. The other parts of the question were well attempted by candidates.