(b) 
(i) 2 marks A full explanation of unlimited liability and why it might be used.
1 mark Some knowledge but lacking explanation.
0 marks No knowledge of the topic.
(ii) 2 marks For an explanation of limited liability on the basis of guarantee and when it might be used.
1 mark Some knowledge but lacking explanation.
0 marks No knowledge of the topic.
(iii) 2 marks For a thorough explanation of liability limited by reference to the amount unpaid on shares and how it operates.
1 mark Some knowledge but lacking explanation.
0 marks No knowledge of the topic.