(a)[3]
State three characteristics that describe a joint venture.
(b(i))[7]
Prepare the account for the joint venture.
(b(ii))[4]
Prepare the account for the joint venture with Tan in Wang’s books.
(b(iii))[3]
Prepare the account for the joint venture with Wang in Tan’s books.
(c)[8]
Explain two benefits for Tan and two for Wang of selling the ornaments in the city on consignment.