SECTION A ANSWER ALL

• 1 (a) Define the term ‘co-operatives’.
• (b) Explain two advantages to a business of being part of a joint venture.
• 2 (a) Define the term ‘job production’.
• (b) Explain two advantages to a business of changing from job production to batch production.
• 4 (a) Define the term ‘contract of employment’.
• (b) Explain the difference between redundancy and dismissal.
• 3 Explain the importance of working capital to a new business. [6 points]

SECTION B (only 1)

• 7 (a) Analyse the benefits to a business of accurate cost information. [8]
• (b) Discuss the usefulness of liquidity ratios to potential investors in a business. [12]