Introduction
Learners are required to open the link given to them to see the introduction of lesson
Task
CLASS ACTIVITY
1. Define the meaning of sole proprietor, partnership, close corporation, public company and private company (10)
2. Tabulate advantages and disadvantages of a sole proprietor (4)
3. Read the scenario below and answer the questions that follows
Jabu, Judith and Jonny are the graduates. They want to establish a law business where the members are jointly and severally liable for debt of the business.
There are no legal requirements for starting such a business except the drawing up of an agreement.
3.1Name the form of ownership that is applicable to this scenario above (2)
3.2 Quote two characteristics of the form of ownership identified in 3.1 (4)
3.3 If you had to open your own company, which form of ownership would you choose, justify your answer (4)
[TOTAL 24 MARKS]
Process
Leaners are required to read all instructions and understand them before answering
write neat and legibly
Answer all questions
answer according to the marks allocated
Evaluation
Learners are expected answer according to marks allocated, i.e if there is 8 marks allocated, learners are expected to give or mention 4 answers
Conclusion
The most common forms of business ownership are sole proprietorship, partnership, limited liability partnership, limited liability company (LLC), series LLC, and corporations, which can be taxed as C corporations or S corporations.
Credits
Platinum business studies grade 10 learners book oxford
Teacher Page
Emihle Ludonga