Question One (1) 155 Marks! a) Tom Hanks is an aspiring accountant who just finished his degree at The University of Namibia. Tom has approached you to help him draft a business plan for his prospective Close Corporation called "Amazing Leather Shoes". Tom's business entity will situated in Ausspanplatz, Windhoek. Tom has approached you to help him draft a business plan for his entity. Set out the relevant clauses to be included in the prospective entity. To raise capital for his business, Tom needs a "convincing" business plan as he is due to submit it at FNB Namibia for approval of a loan for 1 million Namibia Dollars. Your business plan cannot exceed 2 pages in length. (40 Marks) b) Set out true/false only to the following statements: (10 Marks) 1. Company is not responsible for its own debts, directors are. (2 Marks) 2. Directors-follow the instructions of the shareholders (2 Marks) 3. Shareholders appoint directors. (2 Marks) 4. Company Secretaries prepare meetings of directors and shareholders (2 Marks) 5. Employees-mere workers who have no control over the company (2 Marks) c) Discuss five disadvantages of operating a sole proprietorship in Namibia. (5 Marks) Question One (1) 155 Marks! a) Tom Hanks is an aspiring accountant who just finished his degree at The University of Namibia. Tom has approached you to help him draft a business plan for his prospective Close Corporation called "Amazing Leather Shoes". Tom's business entity will situated in Ausspanplatz, Windhoek. Tom has approached you to help him draft a business plan for his entity. Set out the relevant clauses to be included in the prospective entity. To raise capital for his business, Tom needs a "convincing" business plan as he is due to submit it at FNB Namibia for approval of a loan for 1 million Namibia Dollars. Your business plan cannot exceed 2 pages in length. (40 Marks) b) Set out true/false only to the following statements: (10 Marks) 1. Company is not responsible for its own debts, directors are. (2 Marks) 2. Directors-follow the instructions of the shareholders (2 Marks) 3. Shareholders appoint directors. (2 Marks) 4. Company Secretaries prepare meetings of directors and shareholders (2 Marks) 5. Employees-mere workers who have no control over the company (2 Marks) c) Discuss five disadvantages of operating a sole proprietorship in Namibia