Correct Answer: C. extraction

Correct Answer: B. a quota

Correct Answer: B. a consignee

Explanation

The consignee acts as a sort of middleman, which is the individual that buys or retains the goods and passes them along to a third party or the final buyer. The consignee as a middleman brings the consignor (seller/owner of a product) in contact with the third party who is interested in a business transaction.

Correct Answer: B. mark-up

Explanation

Mark-up is simply the amount added to the cost price of goods to cover overheads and profit. This is the difference between the buying price and the selling price

Correct Answer: B. Deferred payment

Correct Answer: B) marketing

Explanation

The options given are: production, marketing, finance, and personnel.

Out of these options, the correct answer is marketing. Marketing is the function of business that is closely connected or dependent on the other functions. It supports and enhances the other functions by promoting and selling the products or services produced by the business. Marketing helps in identifying customer needs, creating and communicating value, and building relationships with customers. It works closely with production, finance, and personnel to ensure that the products or services are produced efficiently, financed appropriately, and the right people are hired to carry out the business operations.

On the other hand, production is the function that deals with the process of creating goods or services, finance deals with managing the financial resources of the business, and personnel deals with managing the human resources of the business. While these functions are important, marketing is considered as the appendage because it supports and connects with all the other functions to ensure the success of the business.

So, the correct answer to this question is Option B: marketing.

Note: It is important to remember that the term appendage in this context refers to a function that is closely connected or dependent on the other functions, rather than being less important or inferior.

Explanation

(a)Differences between a Memorandum of Association and An Article of Association:

• Amemorandum of association contains all the conditions required for the registration of a company whilearticles of association contains only the rules and regulations of the company.
• Amemorandum of association contains names of promoters, authorized capital and the amount of capital contribution whilearticles of association contain the rights of shareholders, directors and procedures of conducting meetings.
• Amemorandum of association defines the relationship between a company and its external parties whilearticles of association govern the relationship between the company and its members.

(b)Advantages of a Public Limited Company:

• Large capital: a public limited company can easily raise capital as a result of many shareholders that subscribe for its shares.
• Legal entity: it has legal existence, therefore it can sue and be sued.
• Access to loans and overdrafts: it can easily obtain loans and overdrafts from financial institutions
• Retained profits: it can plough back some of its profit into the business.
• Easy access to trade credit/hire purchase: because of its size, a public limited company can purchase raw materials on credit from other organisations
• Perpetual existence: it has a long life span once it does not face liquidation, as the death or withdrawal of a shareholder does not affect the existence of the company.
• Easy transfer of shares: shares can easily be bought and sold through the stock exchange.

• Limited liability: it enjoys limited liability as shareholders cannot lose more than what they have contributed to the company.

• Employees can also become owners by purchasing shares from the company.

Disadvantages of a Public Limited Company:

• Lack of privacy: the company is mandated to publish its annual accounts to members of the public which makes it impossible to maintain secrecy.
• Slow decision making: this exists as a result of the need for consultation within the management hierarchy.
• Conflict of interest: there is the possibility of a conflict of interest among the shareholders, directors and staff, which in the long run may affect efficiency in the operations of the business.
• Expensive to establish: it is expensive to establish because of high cost involved in the procedures and documentation.
• Separation of ownership from control: the shareholders are not involved in the management of the company and the people saddled with this responsibility may not put in their best.
• Heavy tax burden: the public limited company pays heavy tax arising from the profit declared.
• The limited scope of operation: the Company can only carry out business activities which are provided for in its memorandum of association and cannot venture into other activities without approval during the Annual General Meeting (AGM).

Correct Answer: D. manufacturing

Correct Answer: C. sending electronic messages

Correct Answer: C. consideration