Question 1
SECTION A
- State three actions to take if there is a fire outbreak in a wood workshop.
- State two ways that are used to overcome the problem of continuity in a sole proprietorship type of business.
Observation
Most of the candidates could not state the actions to take if there is a fire outbreak in a wood workshop.
The expected responses are:
(1) ACTIONS TO TAKE IF THERE IS A FIRE OUTBREAK IN A WOOD
WORKSHOP
- Raise an alarm to get every person out of the workshop.
- Close all doors and windows to prevent further spreading.
- Switch off all sources of power supply.
- Attempt should be made to fight the fire using domestic fire extinguishers.
- Record incidence in workshop accident record book.
- Staff should be moved to the muster point.
- Give First Aid treatment to any victim.
- Retrieve necessary items if possible.
- Do the head count.
(2) WAYS THAT ARE USED TO OVERCOME THE PROBLEM OF
CONTINUITY IN A SOLE PROPRIETORSHIP
- Involve the immediate family in the business
- Including a successor clause in the article of incorporation
- Informing family members about the proposed successor
- Adequate training of a named successor
- Government giving grants to sole proprietorship
- Banks making obtaining loan easy for sole proprietors
- Process of obtaining loans easier for sole proprietors
- Sole proprietor should solicit loans from bank