This question asks candidates to explain the three terms that might be found at the end of the names of different business forms.

(a) 
3–4 marks 
Good to complete answer which shows a knowledge of the meaning and effect of the term LLP.

1–2 marks 
Some knowledge of the meaning of LLP, but lacking in detail or an unbalanced answer not dealing with all the parts.

0 marks 
No knowledge whatsoever.

(b) 
2–3 marks 
Good to complete answer which shows a knowledge of the meaning and effect of the term Ltd.

0–1 mark 
Little, if any, knowledge of the meaning of Ltd, but lacking in detail or an unbalanced answer not dealing with all the parts.

(c) 
2–3 marks 
Good to complete answer which shows a knowledge of the meaning and effect of the term plc.

0–1 mark 
Little, if any, knowledge of the meaning of plc, but lacking in detail or an unbalanced answer not dealing with all the parts.