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FIN2601 Assignment 1 Semester 1 2023
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FIN2601 Assignment 1 Semester 1 2023
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FIN2601 EXAM PACK 2024
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FIN 2601ASSIGNMENT 1 SEMESTER 2 2023
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,Question 1
What is a partnership's primary flaw, as a legal structure for conducting business?
1. The owners have unlimited liability, in that personal wealth can be taken to satisfy debts.
2. The owners lack secrecy, because regulations require firms to disclose financial results.
3. The owners, who are limited partners, have limited liability and cannot lose more than they
invested.
4. The owners, who are general partners, have unlimited liability and may have to cover the debts
of other partners.
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, Question 2
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Which of the following is the best illustration of an agency problem? (Assume the company is paying
its employees’ travel expenses.)
1. Ariel, the controller, travels to Zimbabwe, in southeast Africa, to visit the Victoria Falls with
friends. While there, she talks to her friends about employment opportunities at the firm.
2. Benjamin, the chief financial officer, travels to Mozambique to meet with the bank that is
loaning the firm money to build a factory inMozambique. While there, he tours Inhaca Island.
3. Zachariah, the president, travels to the Western Cape to attend an international convention
related to the company's line of business. While there, he goes on the Robben Island half-day
tour.
4. Eunice, the marketing director, travels to KwaZulu-Natal to attend a sales convention. While
there, she visits the Drakensberg mountain range.
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