(a)[7]
Draw up the memorandum joint venture account. Dates are unnecessary.
(b)[7]
Draw up the joint venture account with Adam in Mary’s books. Dates are unnecessary.
(c)[4]
Explain one benefit for each of Adam and Mary from joining the joint venture.
(d)[3]
State three distinctions between a joint venture and a consignment.
(e)[4]
Explain two disadvantages for Adam of forming a partnership with Mary.