Gce Model Questions Vol1 2017 Commerce Question 7

Practice essay / theory question 7 from the 2017 Gce Model Questions Vol1 Commerce examination. This question covers Business Organisations, Legal Structure, Finance .

Gce Model Questions Vol1 2017 Commerce Essay / Theory
Topics: Business Organisations Legal Structure Finance
Question 7 GCE_MODEL_QUESTIONS_VOL1 • 2017 • COMMERCE • essay

Three friends, Aisha, Bayo and Chinedu, intend to start a business selling homemade pastries in Lagos. They are evaluating three possible forms of business organisation: a sole proprietorship, a partnership and a private limited company.

Question Parts

( a )
Explain the key legal differences between a partnership and a private limited company in terms of liability, ownership and continuity.
( b )
Discuss the advantages and disadvantages of each of the three forms of organisation (sole proprietorship, partnership, private limited company) for raising finance.
( c )
Assuming the friends want to limit their personal liability while retaining control over decision‑making, recommend the most suitable form of organisation and justify your recommendation with reference to at least three relevant factors.

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About This Question

This is Gce Model Questions Vol1 2017 Commerce Question 7. It is one of the essay questions from the 2017 Gce Model Questions Vol1 Commerce examination.

The question covers Business Organisations, Legal Structure, Finance .

View More Gce Model Questions Vol1 2017 Commerce Questions More Gce Model Questions Vol1 Practice Questions Back to Questions

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