Introduction
To my students:
Good Morning and welcome yet again to my class. Please see the below link for the introductory video for todays activity. Do not hesitate to contact me when needing clarity.
Click on this link and enjoy the video!!!: https://youtu.be/F-uXNth_Or0
Task
25 August 2021
Grade 12 Business Studies: Forms of ownership activity 20 Marks
Answer the following questions in full sentences
Read the following scenario carefully and answer the questions that follow
Jabu, Judith and John are law graduates. They want to establish a law firm where the members are jointly and severally liable for the debts of the business. There are no legal requirements for starting such a business except for drawing up of an agreement.
1.1. Name the term of the ownership that is applicable in the scenario above (2)
1.2. Quote two characteristics of the form of ownership named in 1.1 (4)
1.3 Tabulate four advantages and disadvantages of the form of ownership mentioned in 1.1 (8)
2. Name four aspects that must be included in the memorandum of incorporation (4)
2.1. Define the following concepts:
a) Co-operative (1)
b) Initial public offering (1)
Process
Activity instructions:
1. Read the scenario carefully. Following is the list of words from the scenario and the links to find a better understanding about them:
- Establish - https://www.yourdictionary.com/establish
- liable - https://www.youtube.com/watch?v=ho0V6Mhtvjo
- debts - https://www.youtube.com/watch?v=ho0V6Mhtvjo
- legal requirement - https://www.youtube.com/watch?v=lRlcyhvweNE
2. To understand the content of this activity:
- characteristics of different types of forms of ownership: https://www.quia.com/jg/2686133list.html
- Here is an example of tabulating:
- Advantages and disadvantages of forms of ownership: https://open.lib.umn.edu/exploringbusiness/chapter/5-4-advantages-and-disadvantages-of-business-ownership/
- Definition and example of information that is included in memorandum of incorporation: https://www.youtube.com/watch?v=dzEwW64tkxU
Evaluation
Forms of ownership activity 20 Marks
NB:WRITE IN FULL SENTENCES! Half mark for one word answer.
Mark allocation
1.1. 
(2)
1.2. (TWO TICKS FOR EACH CHARACTERISTC) (4)
1.3. (TWO TICKS FOR EACH OF THE FOUR ADVANTAGES AND DISAVANTAGES) (8)
2. (ONE TICK FOR THE FOUR POINTS) (4)
2.1
a) (ONE TICK) (1)
b) (ONE TICK) (1)
Conclusion
Exams are in 2 weeks time, this activity is an exam preparation.
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