3/4 SECTION B Instruction: Complete ALL questions from this section. Question 1 Austin is contemplating opening an athletic store, Heflin Aerobies Sports, focusing primarily on running, swimming and biking. Austin already owns the property that will house the store. Austin will begin the business without a co-owner and he knows, from previous experience, that if and when he does accept co-owners, he wants to retain control. At present, he plans that co-owners will manage new store locations. A Explain the term quasi partnership? (3 marks) B. Suggest TWO (2) reasons Austin should or should not go the route of quasi-partnership (6 marks) c. State the easiest form of business that Austin should choose to start. Why? (3 marks) D. What form of business would be most compatible with Austin's goals and be appropriate for new owners? (4 marks) E Assume that Austin has formed a corporation. He would be considered an agent of the corporation if he were to act in what capacity! (4 marks) (Total 20 marks) Question 2 Al, Carlton and Chris would like to form a private company and they are desirous of employing a company secretary. Explain to them the procedure of appointment as well as duties and powers of a company secretary . (20 marks)