(a)[3]
Give three features of a joint venture.
(b(i))[7]
Prepare the joint venture account.
(b(ii))[4]
Draw up the joint venture with Tan account in Wang’s books.
(b(iii))[3]
Draw up the joint venture with Wang account in Tan’s books.
(c)[8]
Explain two benefits to each of Tan and Wang from selling the ornaments in the city on consignment.