Downloaded from hlayiso.com
2 3 35 53
22
5 33 2
328
31 2321
5555 5
1234 5
12345689
!"#$%&!'(()!*+,!'+-.'"!"/".0123$(+"4
Skip to contentAll 2024 papers 

%20June%202024%20Question%20Paper_hlayiso.com_--11936e49-b2e2-4b0c-a897-9ba405666580/v1-16192050a36172f1cbdf/card.webp)
%20June%202024%20Question%20Paper_hlayiso.com_--796a645e-d833-46c0-ab8a-10ce7d6f9e8c/v1-ea69884a8c9f6933b537/card.webp)

%20June%202024%20Question%20Paper_hlayiso.com_--49c7d55b-6c2c-436c-811b-0cf03cc1d777/v1-24536a5817d2f19214de/card.webp)
View all

%20June%202025%20%20Possible%20Asnwers--4ebc816c-e285-4ea9-908e-0168044732f4/v1-46f460592da3f68239bc/card.webp)



Business Studies Grade 12 Paper 2 Limpopo June 2024 Memo
Grade 12 Business Studies Paper 2 memorandum from the Limpopo June Exam 2024, 31 pages. Read online or download the free PDF.
Business Studies · Grade 12 · Limpopo June Exam · 2024. Memorandum, 31 pages. Read online or download the PDF.
- Subject
- Business Studies
- Grade
- Grade 12
- Document type
- Memorandum
- Year
- 2024
- Exam period
- Limpopo June Exam
- Paper
- 2
- Curriculum
- CAPS
- Pages
- 31
- File size
- 789.6 KB
Free to read online, no sign-up needed
Loading document…
Loading document…
1 of 31
This exam
Limpopo June Exam 2024
- Paper 1Question paperMemo
- Paper 2Question paperMemo
Document textSearch extracted text and jump to a page.
Downloaded from hlayiso.com
0 7367775670
34567
5489 6 7
6986
!"##$%&'"(&)&&
$''*"+,
-./"0)")(#'"1"'"("##$"+
-1./)"'"#"$)#"#2)"#"$$'!'
-).3'""+))"#"+1# )&$
))&(
-#.4 ' "&")"+0'"+#
$&15))'6""&"$'"+
78#"#2&1"$&'')$3984:;3<#8
=*!0"*&'## #&$%&"
>?) "!"++&"#'"1!"##1&""1(
@&"!A&)"#"&'#1+"!*"))1&,
BC#"$$@"$*") ""++&"#'"
B8$)#"1'&)
B:"+"'
B?#"$$ )"&#
;:9,"'(:;9))*"3984:;?
D$'!*!"##1()#"##'')
))#"+'(-4)**"&)'"#")
&##"+0E&'#1*##0$@ '0"#$
@"&$*.
F*#G3&1@HI"&#$)"'"'')"$*""%&"
&1E%&"
J&$)")'"+-+&"##1(2@2"1#*$.
"+E#"#"&)")(#))&)(""+$)"
*''$)')&'"##"&
K3&1'%&"&1*"""+E#+"8")'&1'
"#")#1('')"$"&1+&"##1(G@HI"
"++&"#'":'('$)%&"&'# "'$E#
+"@ "%&"&1
L4"#")%&"0(*''&1'!#
'#%&"
M8)&1"+$*%&"")##"3984:;3?#
<=*!0"$&1"+""))0$''*%&)NOPQRSPTUVWXWUQSIYP
*8#"#*"''1'"#"$'")'
Z'&!
Downloaded from hlayiso.com
123456333829463
!"#""$%&'('
)&""%'!''*!'+#
"%,
-&'!'.+##&
#!/ !01#! !2.
3456578,9:;<=>?@ABCBDEF@G?FBC@?EDH?IJGFG?GK@DF?LMNOMPQORSTUMVWXWP
VNYZSM[ZNVQQ\WOR]^_L
`-&'*!'.+##
&#!/ !01#! !2
$&.+###&
#%&#&.'ab$cd
#efghfijhklmnfopqpifogrslftsgojjuphkvwfe&#*%
"#&#*"x
%0 & #!&&%
'e
5y86z )&!##*'*'%
` {gljflmjfti|ophkfg}flmjflpo~fefphflmjf|iigo|lpghfg}f|s~v
`)&"0"*&"&. !
!.0&0 &+"&
a !!.&,
`d!.....!.. .
1ABGF?DJF?@EGFB@2*&#&'
#)&".&0"&/%
##&
``c"..+#... &."".
#..x"*.*.!.*!
1+&!2#&" .##
)&".&0x!*
& &&
"*.*"&!
0*&$()%%&""&%"
a)$ba&%
!
Downloaded from hlayiso.com
0 7 8777 87
345789
3453 !"#$%&'(")!*'&'"+#,-.
#*##*'&/*")#"")#*##5*'&!"01'2&*/
&*!##")%*('"&*%#")2'34*!35
85.)&#&#*1"$%#"&*#2)")*%0!"#&#
#!&&'5
3456"2!"#2&""*&**#*"*!2'")!*'&'"788!'&"5
9&*"34530:#"&
345;!*'&'"#$%&'":&'")&2*#<:&2#
0&*#"")&#"!%2&")"*"&:*#2#5
3454=
>?@AB>C?DEFAFG>G>HI=JEKJLL?CJAF?E?@MJHN=5
345453")*%0!"##!&&'$%#"&*#")"$%&
!*'&'"#"3'#!&0<'&#!%##<&*310('#
2#O
P!" 6(#Q#&*'&!"'&*")
(&*//%&'&*R
P *"&* 3(Q"2(#2&0!"'
&*-!"&*4R
.)3!"3*'3*"&*3/&:*#"1&*")(&*/
/%&'&*"!&&""(!"&*5
345456")*%0!"#$%&'&#*"#!&&'")!"&*
(#%#"0&*'01")*"%")$%#"&**'")
&%(!"'&*")(&*//%&'&*5
345S 8MJHNMJTI>JUJHK>K@?HJE=U>H=ABJAJH>>J=TA?H>CJLLV
H>WXFH>=?E>U?HKJE=U>H=?HF=WX?A>KKFH>CALT@H?MJ
=C>EJHF?YCJ=>=AXKTZBF=J[[LF>=A?789 7JEK9FE
[JHAFCXLJH\UB>H>J[[LFCJIL>]Z
3S5789 9
3S53 .)0('2*")(!"&*")##1#&##2#O
*"'%!"&*
4*"*" `JaFMXM5
4*!%#&* b
*#&/)" c
^_ 0d
9#"%*:
Downloaded from hlayiso.com
123456333829463
!
"#$%&'(%%((#()%*#+)$#)#%,
-#$#) #))##++(#/)0%
((# #)&%+#)&(((($
%)(#)#+#/),
1#
(/+##)%%)!
-#)#))()!2.3-34
((#256#(/4!2.3-34
'$ -(((7#)&#&(#)
+ # )
0 %,
1#(/+##)%%)!
8(7##!92:3;'34
'(7##!2.3;'34
.$(7##!283;'34
. !<(##))##(9=((
0%$(7##>3;'3
# #(#(-#()
#?%:<.24#(/($
. !<(##))##(#9=
0%$.@(7#
#>3;'3# #(#(
-#()##?%.8A24#(/(
$
. 6!<(##))##(#9=
0%(7##>3;
'3# #(#(-#()#BA@.
#(/($
.(#$ (7)?# +#)(
(#*%((()#))7 ,
8C8DEFCG4534HI8JN
8C8DEKDGL3FCGFDM83J O
8C8DEKDGL3FCG633DPQNROSJ TU
5C86J VW 5XYZ[\]^_``abZ^Z[cbcdX[eXfgbfg][bhbZgbcd[XYgib
_fg[Xcjeg_XfZfceXfej̀]_XfW
W 8ibeZfc_cZgbdX[db_g]YZ[\]dX[Z̀kXjg_dgib^X[c]
458GC92M84C5ZfcMC5ME234C5Z[bfXg]gZgbcW
OW 5XYZ[\]^_``abZ^Z[cbcdX[Z̀kXjgl_dgibibZc_fm]
458GC92M84C5ZfcMC5ME234C5Z[bfXg]jhhX[gbcakZf
bnhZ̀fZg_XfW
o#%(7(
Downloaded from hlayiso.com
0 34567855594 685
!"# $%
&'()*)+,%!-'.
/0$!1%"% !1%2"!,
!12%32%
4!1!52+674*8,4*8 !12$%
$9!+674*8,4*8! :2 !15$
%$)$2%2!%!%!#&;<=.
>*%#%%% !1%!
!1%!%%"?&(@(#%2)*@*#)+@+#)-@
-!#.$$%"
AB79879 FDGH5
C IJKLMNO
(
*
+
-
9B9DE PQ
R9"! !1%!)1%%2$ :)
S#%% 12% 2$
T $!)2$!%2!%!$2%
&!22!,%%",32.!#%
%2&+4*TU7TV*UW-9X%32%.
Y ,!S!32%XZ-TTVZ0([)
, #%$ !1%!#%2
\ !SS!%2$#)2!"!!
%!% !1%%,2$
!12
]]*"!09- !1%!% S*"!-XV !1
%!S!)% S52"!
]^9!% X%5 $!^] )09- !1"%
!#SS!%% S
_`abcdefgbhijbkdllbmabganopocaqborqbdrqdeocaqbrascbctbaoe`b
)uv!%25%S !%"!#)ibk`apa
$2%!%2"S!%2%:
!1wbi
0"$%! $#2!%:%32%)
"%55!$2
9!% X%5 $!^] R) :2 %09-&^. !1%!
%" !12)"%!#
SS#%32%0"%2%S%2!%
32%
v2!%5!
Downloaded from hlayiso.com
$ 15721114 %521&' (
12345679
214567
)*+),+
!"
###
-./0"/1
"--!2!0
"#30/"
)*+),+
4
5
67
87
)*+),+
4649912345679: ;<
$=29>%6?76@A9=>1
214567 A9=>1
B <
B' <
B; <
46499 ;<
C-!0
Downloaded from hlayiso.com
0 37943336 743
3456789
73668
436789! 379433"496 43
#$%&&4'()*+,-.,
/&&012232&456237&89&:5;&<
/&&=12>&;?2@2&1446;;?AB&83>:33A&CD54?AB&1;73;2&5A7&;343?E?AB&B1172&<
/&&FG5AB32&?A&H52G?1A&<
/&&IJKKLKMNOPKLQMRSMTOUVLWXYZMTO[\UONWXNLKMRSMW]LMRPKXYLKKM<
/&&^7E5A43_3A>&?A&>34GA1D1B9À3:&_54G?A3;9&?AE3A>?1A&<
/&&^A9&1>G3;&;3D3E5A>&5A2:3;&;3D5>37&>1&>G3&3a5_CD32&1H&A1A/?A26;58D3&;?2@2$&&
9864!*,6b44cdefg&a&%h
&
& fgh&&
#$#&&6)*
#$#$%&&ijklmnopqrqstonq<<
#$#$#&&u1A62&2G5;32<< f&h&&
#$g&&vw,) &
&
#$g$%&&x;5A254>?1A5D&D3573;2G?C<< f#h&&
&
,y, &
z3&;3:5;72&3_CD19332&H1;&_33>?AB&25D32&>5;B3>2&5A7&C6A?2G32&>G3_&H1;&A1>& &
_33>?AB&7357D?A32$&< f%h&&
9864!{ |w(*w,)y,*}-,
,~()
w(*(,y,,*)*
w,),~~,w,*,w
& 'fgh&&
#$g$#&& 7()~*~,w,)
,,y|wy
/&&A416;5B32&3_CD19332&>1&:1;@&G5;7&<&8345623&>G39&:?DD&;343?E3&&
;3:5;72$&<
/&&_C;1E32&3_CD19332&C;1764>?E?>9&<&5A7&_1;5D3$&<
/&&xG3&B15D2&5A7&1834>?E32&1H&>G3&862?A322&45A&83&54G?3E37&<&52&
:1;@3;2&5;3&_1>?E5>37$&<
/&&_CD19332&@A1:&<&:G5>&?2&3aC34>37&1H&>G3_$&<
/&&?24?CD?A5;9&54>?1A&C;14376;32&<&5;3&:3DD&41__6A?45>37$&<
/&&^A9&1>G3;&;3D3E5A>&5A2:3;&;3D5>37&>1&5&C12?>?E3&?_C54>`&&
&
57E5A>5B32&1H&5&>;5A254>?1A5D&D3573;2G?C&2>9D3$&& &
& &
& &
& &
& &
& &
& &
& &
& &
& &
& &
& &
& &
&&& D3523&>6;A&1E3;&
Downloaded from hlayiso.com
123456333829463 ;
59
59
!!"#$!%!$&!'("!%&!#)*+*),#")-!-#+!)
./&0!"(&%!'0&!"1,
2)"#%)*3#!#'!&/*-#+!)3*)&)-!/&4!&.%!
.!!!",5)!3"0&!)-#)!6!%)#)*3"#&!!)1,
7#3#8*38(%3)&*38!!!",5#$!)*!%3"0*381,
9!!!!"#$!'!&#*"!'(0'!)*+#)!',*.)-!.#*
)&!#%-(!!))#&8!)"'!"*)!-#+*38/&4!'+!&-#&'1,
:)"0*)#$!.&)!#/&4#"#)!#!$!&"%#3$!
03*"-!',.&&!&.%!%#0"!'$3!)!#!$!&1,
23)-!&&!!+#3)#3"/!&&!#)!')#3!8#)*+!
*#%)('*"#'+#3)#8!".#)"#%)*3#!#'!&"-*")!17#61<=>
?1@3ABCDEDDFBEGEHIJGHGDKLHE
MKKHDCBGNKHE
?1@1O9FBEGEHGDKLH
P-*"!#'!&"-*")!%#3$!0"!'/-!3Q
RSTUV5WXWYXSZ5[SX5Z\]^^X_5[`_5X[aXS5bT5Zc[SX5bcX]S5]_X[Zd5,,
P-!!#'!&'!"3)-#+!#)-!*3.&#)*33!!'!')#4!#
'!%*"*3#3'!!!"-#+!+#0#$!*3.&#)*3)
eT`bS]YUbXd5,,
fTTVXS[b]T`5]Z5̀XX_X_5YXbgXX`5[5^X[_XS5[`_5[5bX[Wd5,,
hXe]Z]T`Z5̀XX_5bT5YX5^TT\X_5[b5iSTW5ZXjXS[^5VXSZVXeb]jXZd5,,
23)-!&&!!+#3)#3"/!&&!#)!')"*)0#)*3"*3/-*%-)-!
'!%&#)*%!#'!&"-*")!#$!#*!'*3)-!/&4#%!1
7#61<@>
?1@1?kIlJGmGG
P-*"!#'!&"-*")!%#3$!0"!'/-!3Q
90$&'*3#)!"#&!!6!&)"#3'43//-#))-!/#3)(%#3)#4!
nopqrsptutvtwxyrnwzotn{|wtrsp},,
P-!!#'!&*"+!&$0"#3''!!8#)*3.)#"4"/**3%&!#"!
VST_Ueb]j]b~d5,,
X[W5WXWYXSZ5̀XX_5bT5]WVSTjX_XjX^TV5^X[_XSZc]V5Z\]^^Zd5,,
90*)#$!/-!3!!!"#&!-*8-!6!&*!3%!'#3'43/&!
#$0)bcX5b[Z\5bc[`5bcX5^X[_XSd5,,
23)-!&&!!+#3)#3"/!&&!#)!')#"*)0#)*3*3/-*%-#*""!
.#*&!(.&!!&!*83!#'!&"-*")!#$!#*!'*3)-!/&4#%!1
7#61<@>
!#"!)0&3+!&
Downloaded from hlayiso.com
01
45689 999
!"#$#$$%&'"()*#$&+())(,&'-*.#"*/0123451"6&.%+/#-50
76&/&8'&)9'&+&8"%)&6(/'&)*:)&&$"(/&8';(8&<"("6&-(;.*8<014=1
-&)"*#8-(8'#"#(8$>()*-&)"*#8.&)#('50
?&+&8"%)&6(/'&)$*)&-)&'#"()$@01AB1CDE1F45GA=H1IB1JIAKJE1C413EGAH1CDE1
A54L=C1421CDE1MEKE=CL3EBN10
O($""<.&$(>'&+&8"%)&$-*8+&")*'&'014=1CDE1PQRN10
?&+&8"%)&6(/'&)$)&-&#S&*88%*/#8"&)&$".*<;&8"$01KABEM14=1CDE1
"&);$9*;(%8"(>'&+&8"%)&$6&/'50
T8<("6&))&/&S*8"*8$,&))&/*"&'"("6&;&*8#8:(>'&+&8"%)&$5
O*U5VWX
45Y Z9
45Y5[ TS&)*:&-/*%$&00 V4X
45Y54 !8$%)&'*;(%8"U\($$9?*;*:&B10
O*)]&"S*/%&
^_____
`a_____Ubccccc0
`d[ef6gg100
hi0jkllZ9llm nopqr9 s9Z9Z sn
9rs j
jsn s99rs Z9Zltur9 l s9s u
s m vmmwhoqm nj
xjr9 s9 Z9Zus m vmmhm nr9
9 ZZ9y m9rj
O*U5VWX
z/&*$&"%)8(S&)
Downloaded from hlayiso.com
123456333829463
9!
34" #64586$638 cd" d2594586$638
%&'()*)+(),*')-.'(/).*010',2 %&'()*)+(),*')-.'.*010',2,F.G'(
3456789:937;975895798<=9 0'H)+()-e:93@9X=TT93@9>78=?=@89
>78=?=@893AA?6=;B9: =3?7=;9>79S?=V>56@9S=?>5;f@gB9:
%C/)D*0'E0D,2,F.G'(*)F,0'+ Z<=9S?>7A>S3T93456789h?5X@9:9X>8<9
%
8<=9@34=9:93@9>78=?=@89>@97589?=% 8<=93;;>8>5795i9>78=?=@89859>8B9:
0'H)+()-I3;;=;B9:
%C/)0'()*)+(0+E,2EG2,()-.'(/)%&'()*)+(0+E,2EG2,()-.'(/)/01/)*
JKLMLNOPQR?>7A>S3T93456789:937;9 D*0'E0D,2,F.G'(:937;93h3>793;;=;9
,--)-,((/))'-.U(/) (.LjB9:
>7V=@84=789S=?>5;B9:
%W>=T;@9T5X=?9:9?=86?79579 %k0)2-+/01/:9?=86?79579>7V=@84=78B:Y9
>7V=@84=78B9:Y9Z583T9>78=?=@89 Z583T9>78=?=@89=3?7=;9579>7V=@84=78:
=3?7=;9579>7V=@84=789:9>@ >@9<>h<B:
T5X=?B9:
%['\.(/)**)2)H,'(,'+])* %['\.(/)**)2)H,'(,'+])**)2,()-(.
*)2,()-(.+0FD2)0'()*)+( E.FD.G'-0'()*)+(
^G_F,`ab ^G_F,`ab
5d86lm8n!!o
pqm
m8n!qrm
smtu!8vdwxn
o"rn!qm
y,` azb
{|}~
1$6t9dv5d"t$3
26384d5 "t$3
m s
m |
msm s
msm
m|m |
m|m |
m |
mm
mm |
m |
8d8t# |}
2),+)(G*'.H)*
Downloaded from hlayiso.com
01 456789666 5 7961
596 784567896696
!"#$%&'&("$
)*+,-+,-./01234056
)73.4892,309.8:;03.42<<+:4/36
)=><033.?032,2;.03-:;.48;0<033.+46
)@;.A.48/+2?+.-B042,/C+;80//04-0;6
)*/02,.48B2/04/9+;C+:;+54A0409./36
)D2;1.4804?.;+4104/6
)E2<F+9/;243B2;04<C6
)=?2-0B2C.48/2>6
)G4C+/H0;;0,0?24/24350;;0,2/0-/+/H0B;2</.<2,0>21B,03+9:40/H.<2,
A0H2?.+:;
8 9IJ&#!K99LM"%NO
P>Q PQ
R5%&'$!%!!!
R STUVUWXYZ[YXZZ\]YUWYT^T_Ỳ_Ta_]Y66
RR b2>0?23.+466
PcQ
"'d!"(%e&%f$
g+;<0)[Ua`\Y_W_h̀]U]Y66 PRQ
I"("%
i*g400-3/+,++F2/A+/H/H0B;+324-<+43A09+;003/2A,.3H.48
_WZjkaTY[_VjZThlY6 PQ
8 90OmnoJ!#"&"'d!"(%e&%f$
(%#&f$"!%" O
1O "%"noJ!#"&"("%#&
"'d!"(%en!%"N%oO
2> PQ
R mo(%e!"##"d#o%N!!
)p/B;+?.-032?.3:2,3:112;C+92,,/H0?2;.+:392</+;3
]^qqZTjUWXY6Y_W\YZqqZ]UWXY_Yq_TjUV^`_TYU\a_lY6
)rstuvwxxyzxxu{|}u~a\Y6Y_W\Y^W\aT]jZZ\lY6
)qZ̀haa]Y\aaZ̀qY6Y_W\YXTZYUjkYjkaY^]UWa]]lY6
)p49+;10--0<.3.+43<24A012-023[ZTVa]Y[ZTY6Y_W\Y_X_UW]jY
_TaYVTUjUV_`h̀Ya_`^_ja\lY6
)W_à]Y^]UWa]]a]YjZY]jTaWXjkaWYjkaY\TUUWXY[ZTVa]Y6Y_W\Y
xx|xxyjT_UWUWXY[ZTVa]lY6
)@:3.4033032;02A,0/+H2?024.-02+9/H0/.10,.40
Ta^UTa\Y6Y_W\YjkaYTa^UTaaWj]YZ[Y_\\UjUZW_ỲTa]Z^TVa]lY6
)G4C+/H0;;0,0?24/24350;;0,2/0-/+/H02-?24/2803+99+;<0)
9.0,-242,C3.3
2> PQ
,0230/:;4+?0;
Downloaded from hlayiso.com
123456333829463
9!"#$%&'()*+,%#%&"!-.%&'/
01126343125456 96k4341543lm456
789:;<=>?@AB;=?:<C=D;EA 7nVT?:\V=BD:B=;E:B=j=9?:B[A
FGHIJKLMNOPLQLHGRSTBDTCTDUA<V=A> >=>;=9:\?=BT:9
PNPWNGXLQ PO]OFNPN]MLQLogHLPOpNeL̀M
OIMgHGM̀OGÒ]XLQ
7Y<V=9BAVTC=?:<UVT:B?A9=Z=B=9AV=D[7qA9T:U?A<V=9BAVTC=?A9=
TD=BVT\T=DQLO]^L_GM̀`_OaabL _H]e`^NGN^LQLWNfHGNLD=@TDTBZ:B
NcOaIOMN^XLQ MgNLWNeMLH]NXLQ
7dGH_NeeLHfLO]Oabe`]FLOLeM̀IOM̀H]LQL 7nVT?jA9V:\Vh=j9:;<=>?:<CTBZ
V:TD=BVT\E?V9AV=ZT=?V:;9TBZA;:UV _b_aNLQLOeL^N_èH̀SrSsstuvws
_gO]FNXLQ MOpN]L̀]LNO_gLeMNJXLQ
7YBE:Vh=99=<=CABVAB?i=99=<AV=D 7YBE:Vh=99=<=CABVAB?i=9
V:j9:;<=>7?:<CTBZ 9=<AV=DV:D=@T?T:B7>AxTBZ
yU;>Az{|} yU;>Az{|}
5186~ /8()(((( (
/ 8))( (/
/ l()( ( 81 ()(
(3()4 ( 4
/
Az{}
mk)
GO]eJOGN]_bLQ
__HI]MOWàM̀bLQ
{
|z}{|}
8<=A?=VU9B:C=9
Downloaded from hlayiso.com
01 456789666 5 796
!"#
#
$%&'()&%*'+, 45*+2(2.'(6-+02.'(7/(01*+3*&%80.
9::;<=9>?@A:B?C<D;8
4E/(2'*((*((F./3GH2I*G*0&23(.J
<@9C?@A:B?CK<;LA=MNO;CMO@=<;=A;=@?P8
1*J.%*6&0-''/&3Q*'*%&3
R??=MNOD;8
4E/(2'*((G*&32'H(60%&'(&+02.'(8
7/(01*.)*'6F.'*(08
4E/(2'*(().32+2*(&'G)%.+*((*(
7/(01*+3*&%8&'G/'G*%(0..G1,&33
(0&S*F.3G*%(8
4$F*1.&%G.JG2%*+0.%(7/(0%*).%0
.'1.0F0F*'*H&02I*&'G).(202I*
27)&+08.J0F*1/(2'*((.'0F*
TAPPUNM=VW?NLMCANP?N=D;8
4-' ,.0F*%%*3*I&'0&'(X*%%*3&0*G
0.F.X1/(2'*((*(+&'&))3,
$% & '()&%*'+,&(&Y2'HZ.G*
)%2'+2)3*J.%H..G+.%).%&0*
H.I*%'&'+*
[/17&\]^_
-++./'0&12320, 4E/(2'*((*((F./3G1*
&++./'0&13*6%*().'(213*8J.%0F*2%
B?TM<MAN<D;8
4E/(2'*((*((F./3G)%*(*'0
&++/%&0*&''/&3%*).%0(80.
(F&%*F.3G*%(&00F*-''/&3Q*'*%&3
R??=MNO;`abRcD;8
4$.)7&'&H*7*'0(F./3G*'(/%*
0F&0.0F*%3*I*3(.J0.)
7&'&H*7*'0&%*+3*&%8&1./00F*2%
%.3*(&'G%*().'(2123202*(0.27)%.I*
9TTAUN=9dM:M=VD;8
4-',.0F*%%*3*I&'0&'(X*%%*3&0*G0.
F.X1/(2'*((*(+&'&))3,
-++./'0&12320,&(&Y2'HZ.G*
)%2'+2)3*J.%H..G+.%).%&0*
H.I*%'&'+*
[/17&\]^_
8e 9f0g hi#"hjkkl##mg
g n596 7e8ogpgmlhq
## !"#hn596 7e8ogpg0g
r&\]s_
t3*&(*0/%'.I*%
Downloaded from hlayiso.com
123456333829463
!"#$!
%&'(')*+),-.)'/)012-.)2234506)786)(469:;<=><?@A?<ABB<CAD?EFECAG?=H=?AIJ%
/56K)421.K)42'(.K'/)34506)7;
%L)70)422'(')3522-06)8(12)2;<>M<?@J<NO=EGJ==<CD>NBJP=Q<;
%&)'('-7)6-7-';<M>D<JAF@<NDAEG=?>DPEGR<=J==E>GQ<;
%S)854K*T4-')-K)(2K5U.:;<V@JDJ<ABB<CAD?EFECAG?=<FAG<=JJ<E?Q<;HWXYZ[\Z]
(6250)2/(4)K5.6-.);<XODEGR<AG<J%04(-.2'547-.^2)22-5.;
%_2))(8/21^^)2'-5.;<?><EG=CEDJ<GJV<?@>OR@?=HEXJA=Q<;
%+5.5'1̀K^)*84-'-8-2)*K-28122'/)-K)(2:;<=><?@A?<PAGa<EXJA=<F>OBX<NJ<
^).)4(')K(2b1-8c69(23522-06);
%d667)70)425,'/)^4513;<DAGX>PBa<PAIJ<=ORRJ=?E>G=Q<;
%e/)^45134(')2-K)(2;<AFF>DXEGR<?><E?=<O=JMOBGJ==H=OFFJ==HXEMMEFOB?aHF>=?
'5-736)7).';
%e/)^4513)f(61(')2(6-K)(2:;<AGX<F>PNEGJ=<=EPEBAD<>GJ=HXDAV<OC<A<
4),-.)K6-2';
%+-28122(36(.5,(8'-5.;<>G<@>V<?><EPCBJPJG?<?@J<NJ=?<EXJA=Q<;
%d.95'/)44)6)f(.'(.2U)44)6(')K'5'/)(336-8('-5.5,'/)04(-.2'547-.^
')8/.-b1)'5256f)012-.)2234506)72
L(g hij
klmn
1o6p9qr5qstop3
u26384q5v top3
vw v
vw l
vwvw v
vwvw z
vwl l
vww
vww z
vwx z
8q8y lm
{6)(2)'14.5f)4
Downloaded from hlayiso.com
01 456789666 5 796
596
787698956 76
456
7896698 596
!"#$%#&'"
()*+,-*./.012.3*4
(56789:;<=4
(>;?@A;=B@@C=DE:;F=4
(GHA89EIJ6=:H;696A;=4
8 9'KLM"%#LNOP$!QRSTUVSTV
T7W"#LX"L#
T6X !"L""#LOY"!!QP
Z[\]^_`aGH;696A;=b=c=d=e=d=f=4
g\hiiiUTj4UTklmno4=
pqrTss=4444
8 9 0Rt'u%&!!X'K#OP%LM"'#t"#$"L'u$
t$Kv#'"#M$tR
R7%LM"%$X&!''ut$Kv#t""#M$t$"L!Qwx&LLM"%'!'#t"
#t$vw't'u'X'yX&X$%z99O{PX'K#R
{R7%LM"t$Kv#'uLM"'#t"'"$"Lw't'u'X'yX&X$%89O0P
X'K%$LM"%$X&!'R
]mUSV
TT $X $&uL""#LOY"LMP
|5yO0}PT~
\hiiiT
\hiiiUSTVg\TT4=
mlnlog\TT\hiii
g\TT4444
8 90Rt'u%&!!X'K#OP%LM"'#t"#$"L'u$
t$Kv#'"#M$tR
R7%LM"%$X&!''ut$Kv#t""#M$t$"L!Qwx&LLM"%'!'#t"#
t$vw't'u'X'yX&X$%z99O{PX'K#R
{R7%LM"t$Kv#'u'#t"'"$"Lw't'u'X'yX&X$%89O0PX'K
%$LM"%$X&!'R
]mUSV
lmolnln
Downloaded from hlayiso.com
123456333829463
1
!"#$%%&'(%)%*)(+),%--.*)(+),%-%/''
0 /" ?@A
12
!/*&'()/%/'.34()/%/'.!5'5!6!/
/,/%)%!'%&'(%)&/75/'.5/%'%/')%%/'
899:;<=>" ?@A
XYZ[ ?A
BCDEFG2F2HIHJJGHFF2IK
LMNOPQPR<S8QQPQ;=<S:<T<8O<OS"ST<8=<:OUPVSVNQ<WQP8T>S"
\ ]ST<8=<:^OS_NN=#̀8=S8QQPQ;=<S"S98WSPWaT;<W9<SQU<SO;99<OO#a8PT;:<SNaSQU<S
`;OPW<OO>S"
\ b<8=<:OSc;OQSdWNeSQU<P:SOQ:<W_QUOS8W=Se<8dW<OO<OS"SQNS8VVTfSQU<P:S
T<8=<:OUPVSOQfT<OS<aa<9QPR<Tf>S"
\ g:<8QST<8=<:OS;W=<:OQ8W=SQU8QSQU<S:P_UQS8QQPQ;=<S"SePTh ijkkljmnolk
8QcNOVU<:<>S"S
\ b<8=<:OpS8QQPQ;=<Sc8fSPWaT;<W9<S"S<cVTNf<<Op#Q<8cOpSQUN;_UQO#̀<U8RPN;:>S"S
\ b<8=<:OSOUN;T=ScN=<TSQU<S̀<U8RPN;:"SQU8QSQU<fSe8qkkrijjnqkjYs
c<c`<:O>S"S
\ t;99<OOa;TST<8=<:OS9NWOP=<:SQU<S8`PTPQP<O#OdPTSOSNaSQ<8cSc<c`<:OS"SQNS
YhN98Q<SQ8OdO#:NT<OS<aa<9QPR<Tf>S"S
\ uWQU;OP8Oc"SV:N=;9<OS9NWaP=<W9<SPWS8ST<8=<:>S"S
\ vwrinknxjYkknkyzjni{mnkn{Yh|rmorrzT<8=<:OUPVS"S̀<98;O<S_NN=ST<8=<:O
}nhhikY~}nklkljkYimjoYmzhjiir|zn||n{yhknji{lYh<W_<O>S"S
\ t;99<OOa;TS<cVTNf<<OS8W=ST<8=<:OSU8R<S8S9NWOQ8WQS=<OP:<SQNSeN:dS"S8W=S
89UP<R<SV<:ONW8T#V:Na<OOPNW8TSO;99<OO>S"S
\ jYzjmi}nklYwrinknxjYkQPQ;=<SdWNe"SQU8QSQU<:<SPOS8Te8fOScN:<SQNS
T<8:W#OV89<SQNS_:Ne>S"S
\ vq~rkljmmjhjxYqkYqi}jmmjhYkjzkrkljmrhjr|wjmirqYhYkknkyzjnq
iy{{jii|yhhjYzjmilnw[
5?A
12345633E 63
9GGJHF2F
@ W=<9POPR<S"" ?A
NcVT8PW<:S"" ?A
]__:<OOPR<S""
?A
5',/%)&/
Downloaded from hlayiso.com
01 456789666 5 796
7!"
#$%&'()*&'+,-./%01+%-%234&+*/05%66%,.+7%.%&'-89:;<=>;?@<AB@C8
#DE-+*%--%-&1%&F4%.0&440,&.%.&-G-89AHH;<IJKL9B;9BM@9<;N@O9;P9B@AQ9
'%'F%1-8
#$%&''%'F%1-,&*'&2+'+-%3%1601'&*,%89AO9BAO=O9RSTRUUVWRXTY
&,,01(+*Z.0./%+1&F+4+.+%-[-G+44-[&..1+FE.%-[3%1-0*&4+.+%-8
#$%&''%'F%1-5+./-+'+4&1-.1%*Z./-'&),0'3%.%601.%&'.&-G-[
1%-30*-+F+4+.+%-89BMAB9\@OB9O]JB9BM@J<9&F+4+.+%-[,0'3%.%*,+%-8
#$/%01+%-&--+-..%&'4%&(%1-.0E*(%1-.&*(./%3%1-0*&4+.).)3%-06
.%&''%'F%1-89O;9BMAB9BAO=O9A<@9AOOJLK@I9Q;<@9@PP@HBJ^@N_C98
#`0*64+,.'&)F%'+*+'+-%(89:M@K9B@AQ9Q@Q\@<O9?@<P;<Q9IJPP@<@KB
104%-a
#b*)0./%11%4%7&*.&*-5%11%4&.%(.0./%+'301.&*,%06.%&'()*&'+,
./%01+%-+*+'3107+*Z.%&'3%1601'&*,%
cde fgh
g6"ijjklkl
ijlm
#n?@A=9IJ<@HBN_9B;9BM;O@9@Q?N;_@@O9:M;9A\]O@9:;<=9BJQ@C988
#`0(%06,0*(E,.[%./+,--/0E4(,0*.&+*,4%&11E4%-&F0E.&FE-%06501G
BJQ@C988
#o;KI]HB9B<AJKJKL9;K9BM@9H;KB@KBO9;P9BM@9H;I@9;P9H;KI]HB>@BMJHOC988
#`0(%06,0*(E,.[%./+,--/0E4(F%-+Z*%(F)&44%'340)%%--0./&../%)
A<@9A:A<@9;P9JBO9H;KB@KBOC988
#p0*+.01%'340)%%-B;9@KO]<@9BMAB9BAO=O9A<@9H;Q?N@B@IC88
#q.1E,.E1%501G+*Z/0E1-+*-E,/&5&)./&.%'340)%%-/&7%61%%[64%2+F4%
BJQ@9P;<9?@<O;KAN9QABB@<OC988
#`1%&.%&,E4.E1%061%-30*-+F+4+.)[-.1%*Z./%*.%&'-3+1+.+*01(%1601&44
%'340)%%-.06%%41%-30*-+F4%6015/&./&O9B;9\@9AHMJ@^@IC88
#r%'+*(%'340)%%-./&.3106+.5+44(%,1%&-%1%-E4.+*Z+*6%5%1
+*,%*.+7%-[F0*E-%-3&)#;]BOC988
#b*)0./%11%4%7&*.&*-5%11%4&.%(.0-.1&.%Z+%-.0(%&45+./%'340)%%-
5/0&FE-%501G.+'%&-&*E*%./+,&4[E*3106%--+0*&4FE-+*%--31&,.+,%
cde fsh
tuvw
4x9yz {|8{}cyxz6
~596 7{8u cyxz6
ue0
uee0
uee u
uee
ue 1
ueu
ue
ue 1
{ y
uv
{ y69 7{84 1v
4%&-%.E1*07%1
Downloaded from hlayiso.com
9 15721114 521
12345673
"
514!"
# 214567$%9 157211&274 21
'!(""5)*
+"",-."/0-122.34567"8.956:;:.3"<=9-127.">/8<?":3"1"@06A1B"A16C.;"
DEFGHIJIKLEMNOOPQRGSTOIDDEFGNKIRJPQNPQNURTRRKOIJPRVWX
+""YZ[\]^_`_a[b\ca_Z̀[a`]dda[aef̀]g̀\_faec̀]hiZj\a_k̀lf̀maǹopq̀X
+""8-16.3"6.r6.3.2;";-."r16;3"0@";-."90Ar12s";-1;"1"r.6302t7605r"0@"r.0rB.""
]ujq̀X
+""v6.@.6.29."3-16.3"912"4."9023:w.6.w"13"1"x:14B.":2x.3;A.2;"0r;:02"13"
IKURJPEHJQNURUNHIESJEGPIEKJPEcm]]_ad̀[]hq̀X
+""y2x.3;063"-1x."1"6127."0@":2x.3;A.2;"0rr06;52:;:.3";0"9-00_ad̀[]hq̀X
+"",-.s"A.1356.";-.3.":2x.3;A.2;"0rr06;52:;:.3"171:23;"96:;.6:1"@06"700w""
\jba_fhajfq̀X
+""y2x.3;063"3.;"@:2129:1B"701B3"12w"9023:w.6"w:@@.6.2;"@19;063"z-.2"A1C:27""
PQR_aèac\_\]j_q̀X
+""<2;6.r6.2.563"z-0"3;16;.w"453:2.33"x.2;56.3"A53;"3-0z"1"6.;562"02";-.:6""
\jba_fhajfq̀X
+""{2:;";653;3"9023:3;"0@"1"25A4.6"0@"w:@@.6.2;"3-16.3"12w"3.956:;:.3"r5;""
f]|afma[Z̀jeh̀ZjZ|aek̀lZ̀d̀^jeh̀ZjZ|a[q̀X
}""~2s"0;-.6"6.B.x12;"123z.6"6.B1;.w";0";-."@529;:023"0@"/8<t",sr.3"0@""
r6.@.6.29."3-16.3t@19;063";-1;"A53;"4."9023:w.6.w"z-.2"A1C:27"12""
:2x.3;A.2;"w.9:3:02t.@@.9;:x.2.33"0@"52:;";653;3"13"1"700w":2x.3;A.2;!""
"
>~2s""="(?"">?""
'!""*12
+"":x.3"0rr06;52:;:.3";0"@:2129:1B":23;:;5;:023"359-"13":2356129."90Ar12:.3";0""
IKURJPPQRIHMSKVJIKJQNHRJWXX
+""8.6x.3"13"1"4160A.;.6t:2w:91;06"0@".9020A:9"902w:;:023":2"805;-"~@6:91!"XX
+""..r3":2x.3;063":2@06A.w"02"3-16."r6:9.3"4s"r54B:3-:27";-."3-16."r6:9.3"
eZ\glq̀XX
+""~9;3"13"1"B:2C"4.;z..2":2x.3;063"12w"r54B:9"90Ar12:.3!"XX
+""8-16.3"16."x1B5.w"12w"133.33.w"4s".=r.6;3!"XX
+""8A1BB":2x.3;063"16.":2x:;.w";0";1C."r16;":2";-.".9020As"0@";-."9052;6s""
;-6057-";-."45s:27t3.BB:27"0@"3-16.3!"XX
+"".2;56."91r:;1B"A16C.;":3"A1w."1x1:B14B."02";-."0r.2"A16C.;!"XX
+"" 6w.6Bs"A16C.;"@06"3.956:;:.3"3.6x.3"13"1"w:39:rB:2.w"A16C.;"@06"""
3.956:;:.3!"XX
+""<2905617.3"2.z":2x.3;A.2;3":2"805;-"~@6:912"90Ar12:.3!"XX
+""04:B:3.3";-."@52w3"0@":2356129."90Ar12:.3"12w"0;-.6":23;:;5;:023!"XX
+""1:3.3"r6:A16s"91r:;1B!"XX
+"".75B1;.3";-."A16C.;"@06"w.1B:27"z:;-"3-16.3!"XX
+""vB123"6.3.169-.3"12w"1wx:3.3"02":2x.3;A.2;"r033:4:B:;:.3!"XX
+""<2356.3";-1;";-."A16C.;"0r.61;.3":2"1";6123r16.2;"A122.6!"XX
+""v60x:w.3"r60;.9;:02"@06":2x.3;063!"XX
+""<2905617.3"3-06;+;.6A":2x.3;A.2;!"XX
+""19:B:;1;.3".B.9;602:9";61w:27"0@"3-16.3t8,~,<!"XX
+""~2s"0;-.6"6.B.x12;"123z.6"6.B1;.w";0";-."@529;:023"0@";-."/0-122.34567""
8.956:;:.3"<=9-127.">/8<?!""
>(?""
" "
""" vB.13.";562"0x.6"
Downloaded from hlayiso.com
01 456789666 5 7960
!"#$%"&'&&#!&%()&(%**
+,-./,012/.34
56789:;676<=88>9?@<@?;?9A9B@C8>9>@D@>8<>EF9A
567898<=@=G8>9=H9EI6789@<96<J9A9E;7KG;E9LH?K6<J9K7HB@=EF9A
5./M/NO/,NP,/.>@D@>8<>E9A9QI8<9=I89LH?K6<J9K87BH7?E9Q8GGF9A
5I6D89K78B878<=@6G97@:I=E9HD879H7>@<67J9EI678EA9H<978K6J?8<=9QI8<9=I89
RSTUVWXRYHE8E9>HQ<F9A
5Z[\0],/../1/O-[]-[3^/../1-]/2]0_-.]NMN_-]N[P_.//̀./[M/3,-./3
a2/[]ǸNM-]N0[bcd
e/3M.N_]N0[bcd
+fgh-ibjd
8k"!"#$%"&'&&#!&%()&(%**
+,-./,012/.34
578L8@D896<96?H;<=98l;6G9=H9=I89@<@=@6G9@<D8E=?8<=9A9KG;E96LL7;8mVWm
;<K6@>9>@D@>8<>E9;KH<9G@l;@>6=@H<F9A
520[0],-O/],/7@:I=9=H9K67=@L@K6=89@<9K7HB@=E9A96B=8798l;@=J9EI678IHG>87E
,-O/g//[_-N2-2ND@>8<>F9A
5Q@GG9<H=9:8=98C=769>@D@>8<>9A9@<9L6E89HB9E;7KG;E9K7HB@=EF9A
5-./nWopoYnmoSqnRnprnSWYXVsptnmq6=89HB9>@D@>8<>9A98D87J9J867F9A
5Z[\0],/../1/O-[]-[3^/../1-]/2]0[0[5_-.]NMN_-]N[P_.//̀./[M/3,-./3
uvwvxy&%"&'&&#!&%()&(**
5zI678IHG>87E96789LH?K8<E6=8>9BH79K6E=9>@D@>8<>E9=I6=9Q8789<H=9K6@>9H;=A9
{|nWUqSspo}{nqnoSSYS{oSmnRYVqnmpD@>8<>EA~8L8@D89>@D@>8<>E9<H=A9
K78D@H;EGJ9K6@>9H;=FA
5Z[\0],/../1/O-[]-[3^/../1-]/2]0Mfhf1-]NO/_.//̀./[M/3,-./3
a2/[]ǸNM-]N0[bcd
e/3M.N_]N0[bcd
+fgh-ibjd
8k!vwvxy&%"&'&&#!&%()&(%**
5|Vqn|SYmnq}VqnWSoRSTUnW}VonmsSqUV}=9>@D@>8<>E9A9=I6=9Q8789<H=9K6@>9
H;=9QI8<9K7HB@=E9Q8789GHQF9A
5Z[\0],/../1/O-[]-[3^/../1-]/2]0[0[5Mfhf1-]NO/_.//̀./[M/3,-./3
a2/[]ǸNM-]N0[bcd
e/3M.N_]N0[bcd
+fgh-ibjd
1/-3/]f.[0O/.
Downloaded from hlayiso.com
123456333829463
!"#$%!&'#"#(##)#(*'+,- .'!%/!..#+0.1+&+2.#1$$,1&-
%+)0!&3456789:7;6<96<6=8>7?6@;8A76BC6<6D@7A8=87?6?<97EBF7;6<6A7;9<8C6@7;8B?6
B=698G7H5
I&3+.#""#J#K!&.!&$L#""#J!.#(.+"#(##)!'J#0"#2#"#&%#$!"#$M
N(#&.121%!.1+&OPQ
R#$%"10.1+&OPQ
,')!STOUQ
5VWX
Y:<;7D6<;76BCZ[6\B]^:96\<A_6̀:7C69:76ABG@<C[6AZBD7D6?B`C656=B;
;7<DBCD6B9:7;69:<C6\<C_;]@9A[H65
I&3+.#""#J#K!&.!&$L#""#J!.#(.+&+&"#(##)!'J#0"#2#"#&%#$ !"#$T
N(#&.121%!.1+&OPQ
R#$%"10.1+&OPQ
,')!STOUQ
abcde
!"#$%!&'#%+&K#".#(1&.+!0"#(#.#")1&#(&,)'#"+2+"(1&!"3
D:<;7D656BC69:76?<976D@7A8=87?6̀:7C69:76@;7=7;7CA76D:<;7D6̀7;768DD]7?H65
I&3+.#""#J#K!&.!&$L#""#J!.#(.+%+&K#".1'J#0"#2#"#&%#$ !"#$M
N(#&.121%!.1+&OPQ
R#$%"10.1+&OPQ
,')!STOUQ
5VWXbcde
Y:<;7D6A<CCB96\76ABCF7;97?6568C9B6B;?8C<;[6D:<;7DH65
I&3+.#""#J#K!&.!&$L#""#J!.#(.+&+&%+&K#".1'J#0"#2#"#&%#$!"#$M
N(#&.121%!.1+&OPQ
R#$%"10.1+&OPQ
,')!SOUQ
5f86ghijklmnopjqlrf2stuvVWwxM
8xynqtzv
9nq{jpylpVWtzv
hi|Mt}v
~J#!$#.,"&+K#"
Downloaded from hlayiso.com
00 34567855594 6850
!
"#$6!%#&6'
()*+*,-./012/3*+,/3.4*015*-.3*1.6789:;<=>8?9@<A<B@CD?E?D<9DBC
?9FA<:B<D8F:G?@:=8HAIJ@K8I98@K<8IA?H?9:=8:;IL9@8?9E<B@<DM87
(NOPOQRSS>T8@K<A<8J?==8U<8:8D?A<F@8=?9V878U<@J<<98A?BV8:9D8A<@LA9M78
(WK<8A<@LA98BKIL=D8U<8<XGA<BB<D878:B89<@8:Y@<A(.Z[\Z01-/1.4*
?9E<B@;<9@M87
(]<@LA9B8F:98U<8?98@K<8YIA;8IY8F:G?@:=8H:?9B878JK<A<8@K<8:BB<@
:GGA<F?:@<B8?98E:=L<8IE<A8@?;<M87
(^4*1*.Z+.*,(@:X8A<@LA98BKIL=D8U<8K?HK<A878@K:98@K<8?9Y=:@?I98A:@<M78
(_1`/.4*,,*a*5Z1.Z1-b*,,*aZ.*c./)deZ-Z+Z2./,./f*
2/1-0c*,*cb4*13Zg01\015*-.3*1.c*20-0/1-
hif3Z[jk
l9m
(]<Y<AB8@I8:8FI;GL=BIA>8G:>;<9@878;:D<8U>8F?@?n<9B8@I8@KO
HIE<A9;<9@M87
(o8HIID8?9E<B@;<9@878J?==8>?<=D8HIID8:Y@<A(.Z[A<@LA9BM87
(p9FI;<8@:X8?;G=?F:@?I9B8;LB@8U<8FI9B?D<A<D878?98IAD<A8@I8<9BLA<8:8
40\41*.Z+.*,(@:X8A<@LA9M87
(W:X8A:@<B8:A<89I@89<F<BB:A?=>8@K<8B:;<878YIA8D?YY<A<9@
?9E<B@;<9@BM87
(_1`/.4*,,*a*5Z1.Z1-b*,,*aZ.*c./.Z[Z.0/1Z-Z+Z2./,./f*
2/1-0c*,*cb4*13Zg01\Z1015*-.3*1.c*20-0/1
hif3Z[jk
q6rs
(e1+aZ.0/1,*+*,-./Zc*2,*Z-*701.4*5Zai*/+3/1*`ci*./,0-01\
t,02*BM7
(u*/ta*Z,*Z++*2.*cf`Z40\401+aZ.0/1,Z.*67f*2Zi-*.4*0,
3/1*`vti,24Z-01\t/b*,c*2,*Z-*-M7
(^4*,*.i,1/1015*-.3*1.-4/iacf*40\4*,7.4Z1.4*01+aZ.0/1
,Z.*M7
(e1+aZ.0/14Z-Zt/-0.05**++*2./1-/3*015*-.3*1.-7-i24Z-
t,/t*,.̀Z1c-4Z,*-b4*,*.4*012/3*b0aa012,*Z-*Z-01+aZ.0/1
012,*Z-*-M7
(_1`/.4*,,*a*5Z1.Z1-b*,,*aZ.*c./01+aZ.0/1Z-Z+Z2./,./f*
2/1-0c*,*cb4*13Zg01\Z1015*-.3*1.c*20-0/1
hif3Z[jk
wmxj"lk
ua*Z-*.i,1/5*,
Downloaded from hlayiso.com
123456333829463
!"!#$%&'!()"%*!"!#$+,-.&)'//-!+$/."0-$1.-!""$/&)+#
2$3)+404$/56789:;<=>?@ABCCB
D E-$4"F$/0.+-!/!F!+4$0'0.3-../$(+.*G!,4%$++!"#$.(/-!+$/(+.*H.,$+
IJB8K;8<LBM<;L<<NBJOBLKNPABCC
D 2!($4"F$/0*$"0/9NBKIBKNBQ9:9;<MB977JLMK:;BIJBLRS<NB9:MBL<;RS9IKJ:NABCCB
D TBNQ9SBB9QJR:IB79:BU<BK:V<NI<MBW<LBQJ:I8ABCCB
D 5!/'0.4"F$/04"X!/4"F$/0.+//4*YH'3.*YH$0$!($,+$H$F!"0(.+*/.+4"F$/0
J:SK:<ABCCB
D 5!/'0.3!/-4",-$"!"4"F$/0JLB:<<MNBQJ:<ZABCCB
D [H)30)!04."/4")"400+)/0+!0$/.(+$0)+"!+$.(0$"".0/./$F$+$&$3!)/$.(
MKV<LNKIZBJOBI8<BK:V<NIQ<:IBOR:MABCCB
D \<:<L9SBZBU<9INBK:OS9IKJ:BJ:BI8<BQ<MKRQ=SJ:;BI<LQABCCB
D ](($+3.*Y$0404F$+$0)+"/4"0-$(.+*.(3!Y40!H#+.,0-!"%%4F4%$"%
MKNILKURIKJ:ABCCB
D [)"%*!"!#$+/!+$^".,H$%#$!&H$G$_Y$+0/G+$H4!&H$G0+)/0,.+0-'!/0-$'!+$
+$`)4+$%0.&$!33+$%40$%0./$H )"400LRNINABCCB
D a"'.0-$++$H$F!"0!"/,$++$H!0$%0.0-$$(($304F$"$//G!%F!"0!#$/.()"40
0+)/0/!/!#..%4"F$/0*$"0b
cd efg
hijk
l4/0$%3.*Y!"4$/."0-$125,4HH;<IBQJL<B<6WJNRL<BIJBWJNNKUS<BK:V<NIJLNABCC
D m4F4%$"%/Y!4%.)0."Y+$($+$"3$/-!+$/,4HH!00+!30*.+$Y$.YH$0.4"F$/04"!
7JQW9:ZABCC
D a&)/4"$//0-!04/*!"!#$%/)33$//()H',4HH*!^$!")*&$+.(4"F$/0*$"0/
JV<LB9BW<LKJMBJOBIKQ<ABCCB
D n)/4"$//$//-.)H%4"F$/0$_0+!3!/-0.#$"$+!0$*.+$4"3.*$+!0-$+0-!"
H$!F4"#404"I8<BURNK:<NNoNB7RLL<:IB977JR:IABCCB
D a"'."$3!"4"F$/04")"400+)/0/&'4"F$/04"#!/4"#H$H)*Y/)*G3$+0!4"
9QJR:IB<V<LZBQJ:I8ABCCB
D a"'.0-$++$H$F!"03."3H)/4."+$H!0$%0.0-$()"304.".(125G0'Y$/.(
Y+$($+$"3$/-!+$/G(!30.+/0-!0*)/0&$3."/4%$+$%,-$"*!^4"#!"
4"F$/0*$"0%$34/4."G$(($304F$"$//.()"400+)/0/!/!#..%4"F$/0*$"0b
pqrstuvw pvw
xyz{
|}~~r~
Downloaded from hlayiso.com
01 456789666 5 7960
4 9 8 78
9 76 D75
0
!"#$% EF
&'()!"()")))!*+)! EG IJ
+!*+,!-)!)).*)
K0
,+/0+1)!,))!
23)"1)!,) E0
2&+4+
2"5++)
61++0)!"!! H
75! 0
786789
:+' 0
6+5'!!;)()+ 0
$'*)!! 0 H
<0+5'=%4+,(5)! 0
6 1F
>:6$<?)+*,()@
655+)A,+/!"+55)B),)!+),)C
655+)L,+/"5'!,)"*))B),)!+),)C
655+)M,+/!.*)))B),)!+),)++55C
N5)+!)1)
Downloaded from hlayiso.com
123456333829463
26384512345633638665659548
56658
4!"#$%!
&'()*+,-./+0)1/+23)+*4-0)1/+44546+0478*/8+.43)+94:68-668+7+;;<
=+*.(1>+?0;1@++4*4-;+)6+2?-.-(+?+.6A
&B+-?71)C)+>+)461-.3?=+)1>0+10;+/1;;-=1)-6*.(571)C*.(61(+68+)
+>>+/6*,+;@*.1)2+)61)+-/8-/1??1.(1-;A
&D3//+44>3;6+-?4(168)13(82*>>+)+.646-(+41>6+-?2+,+;10?+.6*.
1)2+)61=+/1?+43//+44>3;5+>>+/6*,+A
&E11)/1.>;*/6?-.-(+?+.6?-@;+-2616+-?>-*;3)+1)68+2*441;36*1.1>-
6+-?FGA
&'.@168+))+;+,-.6*.6)123/6*1.)+;-6+268+2*>>+)+./+4=+67++.
()*+,-./+-.2/1.>;*/65/)*6+)*->1)43//+44>3;6+-?0+)>1)?-./+546-(+41>
6+-?2+,+;10?+.65/1))+/60)1/+23)+612+-;7*68()*+,-./+4
'.@9HI: 9H:
H9%JJKK$KLMKNKKO%KPQ$KQ"$!JR%$
46S56 548
&T8+.-.+?0;1@++*43.8-00@ <uvwsxGnyGnzqoqnosGA{qp|ws{}q|~G
UV8-4-0)1=;+?5/1?0;-*.6*.68+ znqorsGqoGrx|G~nzvwm|FGA
WXYZ[\]^_àU
&b6*478+.-cadcedfdeg]\VhYXg[aUa &k*4-()++?+.6=+67++.6711)?1)+
8-4-71)C<)+;-6+2*443+A 0-)6*+4*.68+71)C0;-/+FGA
&iI-?0;+468-6/-./-34+- &iI-?0;+468-6/-./-34+/1.>;*/6j
()*+,-./+jk*4/)*?*.-6*1.l3.>-*) &';-/C1>6)3465?*4/1??3.*/-6*1.5
6)+-6?+.6l011)71)C*.( 0+)41.-;*6@/;-48+452*>>+)+.6
mnopqrqnosFGA ,-;3+4A
&'.@168+))+;+,-.6-.47+) &'.@168+))+;+,-.6-.47+))+;-6+2
)+;-6+261-()*+,-./+ 61-/1.>;*/6
D3=?-I9t: D3=?-I9t:
5868KQLNK"!KL!QPK!MK%QM#RQJ!Q
H8K"%L%$%!"!KL!QPK!R% M##LMK$RKQ
NQ"QQ%#!J2Q L%JK"%L%$%!%L!
$RKQQ K%KO%KPQ$K!$!JR%$
Q
E;+-4+63).1,+)
Downloaded from hlayiso.com
01 456789666 5 7960
7!!"#$%%&
'()*+),-./0)/12-3430)/443456)27-5112,489:;<9=>?@A:?@>;9?>B:C<D
)/E.24.),8
'F226GH25I63I4),1),-2I/J,)J/432I-.31-89B@KK9L;DMCL9N>O9
-/43-7/E432IG3IE,)/-)1,265E43034P274.)4)/*8
'()*+),-/,)Q>==@??L<RS:DD@>;:?L89?>B:C<D9:QT@LA@;U9:9Q>==>;9U>:KR9
2+V)E430)-8
'W)/*J)/6),/EXI2YJ)6Z)-GZ30)-E,)63442*)*+),-89[>C9S>D@?@AL
E2I4,3+5432I-8
'\IP24.),,)J)0/I4/I-Y),,)J/4)6423I4),1),-2I/J/443456)-/I6
+)./0325,/-/E,34),32I72,-5EE)--75J4)/*1),72,*/IE)
],34),3/^_`
ab1J/I/432I^_`
H5+*/b^c`
_6#!$de!88
'fghijhkljmnR?CMD?9?>B:C<D9?L:=9=L=OLCD989<LDS@?L9=M?M:K
<@[[LCL;QLDo989
'pT>B9CLDSLQ?989[>C9?TL9q;>BKL<ULRDq@KKD9>[9L:QT9=L=OLCo989
'r),72,*4)/*4/-X-Y34.3I4)Z,34PG15,-53IZ,)-12I-3+3J34PG*))43IZ
?L:=9<L:<K@;LD989B@?T9;LQLDD:Cn9Q>==@?=L;?9?>9?L:=9U>:KDo98
'\IP24.),,)J)0/I4/I-Y),,)J/4)642-./,)60/J5)-G*545/J4,5-4/I6
-5112,4/-/E,34),32I72,-5EE)--75J4)/*1),72,*/IE)
],34),3/^_`
ab1J/I/432I^_`
H5+*/b^c`
88
'\EJ)/,-)4271,2E)--)-G1,2E)65,)-72,4)/*Y2,X)I-5,)-89?T:?9LALCn9
?L:=9=L=OLC9M;<LCD?:;<D9T@DRTLC9C>KLo989
'sO@K@?n9?>9Q>==M;@Q:?L9BLK9989:;<9=:qL9tM@Qq9<LQ@D@>;Do989
'u>==M;@Q:?LD9B@?T9?L:=9=L=OLCD989:;<9:K9>BD9[>C9[LL<O:Qqo989
'v;Q>MC:ULD9<@DQMDD@>;9:O>M?9?TL9SC>OKL=989D>9?T:?9D>KM?@>;D9Q:;9OL9
[>M;<o989
'u>;?@;M>MD9CLA@LB9>[9?L:=9SC>UCLDD9L;DMCLD9?T:?9?L:=9=L=OLCD989Q:;9
,)E437P*3-4/X)-G/E41,2'/E430)JP42)I-5,)4./4Z2/J-G4/,Z)4-/,)
CL:QTL<o989
'\IP24.),,)J)0/I4/I-Y),,)J/4)642E2**5I3E/432I/-/E,34),32I72,
-5EE)--75J4)/*1),72,*/IE)
],34),3/^_`
ab1J/I/432I^_`
H5+*/b^c`
rJ)/-)45,I20),
Downloaded from hlayiso.com
6789 888 798 `
12324
!"#$!%&"'()"&$"#!(*+(,-.#!*#$"*"+/012034530566078798:10;<2=0
>?@ABCDEF@BGH3209805II27J6K148LM0
N(!!()-)"**+.,..O"$#+"#*#P)(+03205I4K8Q803857029R8I3KQ81M0
..O"$#+"S(+TU#)#-"U")+03205I4K8Q803857V9W1K<811029R8I3KQ81M
X-$"".)U"+T.&*YS#%*+.-"++T"Z.[&.)""''",+(\"!%0=K342W3
S#*+()-+(U".),.)'!(,+$"*.!P+(.)2
X!!U"U["$*+#]"O#$+0K<0L8IK1K2<075;K<^M0
X[#!#),"&,.UO.*(+(.).'*](!!*Y]).S!"&-"Y"_O"$("),"Y"_O"$+(*"
8<1W:810345303857105I4K8Q80348K:029R8I3KQ81M0
X)%.+T"$$"!"\#)+#)*S"$$"!#+"&+.,..O"$#+(.)Y,.!!#[.$#+(.)#*#
,$(+"$(.)'.$*P,,"**'P!+"#UO"$'.$U#),"2
$(+"$(#vwx
y_O!#)#+(.)vwx
a bcdefg hi jklmno zP[U#
_v4x
jk{|l j}l
1248pgfq rsq
1242t uqp
~)&(\(&P#!*-#+T"$()'.$U#+(.)Y(UO$"**(.)*#[.P+"#,T.+T"$Y+T"*,.O"
0
~)&(\(&P#!*'.,P*.)["()-[P*%S(+T$.P+()"+#*]*/01WI4051038570
.$-#)(*#+(.)YST.&."*ST#+YST")+.U""+"#,T.+T"$/083IM0
+"#UU"U["$*20
"#UU"U["$*,#)&"+"$U()"T.S"#,T.)"/#*#)()&(\(&P#!/0=K6C
$"*O.)&P)&"$O$"**P$"2
X)%.+T"$$"!"\#)+#)*S"$$"!#+"&+.'.$U()-#*#*+#-"()+"#U
&"\"!.OU")+2
z+#-"vwx
(*,P**(.)vwx
zP[U#_v4x
!"#*"+P$).\"$
Downloaded from hlayiso.com
01 999990
456579
!"#$!% #&$'!(!)%*+,!*)-',"./01234/1546027589/./
:71134382/7;30</1456/2306/636=34</./>7?-,!&")!$
@58<7;34027589/./
A306/636=34</5B38/CB/25/30@D/52D34/./0*(,!*)$!*",#
!"#$E'(+B34<B3@27F3<9/./
A38<758G<24CHH?3G04HC6382</5@@C4/./08;/CB<32/2D3/2306/
I$+"#$JI&!K$"$% -)!$"#&!'"'!*!)"
?30;349/./
L*!'*"*,"!$'* ,*I$!-M(N%',O-JP./'*!"#$Q
2D3/2306/83F34/?30F3</2D7</<20H39/./
R08S/2306</107?/;C478H/2D7</<20H3/./0</2D3S/043/852/15@C<3;/58/
2D374/20<T9/./
#'&#,*I,!("$%,"'M)!$"#"+K'--* "'M-J
'&,"!*"&$)!$*,Q./71/0?/5>3;/25/H32/5C2/51/@58245?9/./
AD7</<20H3/7</83@3<<04SG76B542082./154/2D3/H45>2D/51/2D3/23069/./
U563/2306/636=34</25?34023/30@D/52D34/./25/<C4F7F3/2D7</<20H39./
V*J!"#$$-M*"*K$$-"("!"!$'* " '*
"(M-!&*"5
W" X7Y
Z',%'!*X7Y
W%I[X6Y
4565\ ]^_ `ab_cc`a
I$,!"!* $*"./08;/430@D/@58<38<C<9/./
d!-*($&!*'I'-'"'./043/@?304/08;/0@@3B23;9.
e$!,+K!$O'* "J-./08;/%"%-$&,"(M-!&!* "
636=34<9/.
I$#M"#I'"'!*"!K!$O./154/2D3/<C@@3<</51/
2D3/23069./
f581?7@2/60S/5@@C4g/./=C2/@566726382/08;/C872S/043/<2458H9/./
V*J!"#$$-M*"*K$$-"("!*!$'* +""-'* *(
$,!*,'-'"'!*" !)"(M-!&*"5
W" X7Y
Z',%'!*X7Y
W%I[X6Y
e-"%$*!M$
Downloaded from hlayiso.com
123456333829463
!""
#$%&'('%')%*+(&*%(&,&*%(-.(+/*&/%01%+(2(&34(&1'+(-.(/5%(/%&'6(2(
#$5%7(5&8%(41*%9/1-3(2(,1/5-:/(13/%*.%*%39%(.*-'(/5%(;%&4%*6(2(
#<*-9%++%+(2(&34(+/*:9/:*%+(&*%(+%/6(2(
#=%&4%*+(4%;%0&/%(2(&34>?@AB@@CD@EA>F@BB@BGHI
J*-9%4:*%+6(2(
#K;;('%')%*+(&*%(3-,(9-'J%/%3/L(&:/-3-'-:+(2(&34(&);%(/-(
DGHIM@CD@I@FNBN>H#'&O130(J*-9%++(,1/5-:/(+:J%*81+1-36(2(
#P1..%*%39%+(&'-30('%')%*+(&*%(&JJ*%91&/%4(2(&34(:+%4(/-(
%35&39%(/5%(/%&'Q+(J%*.-*'&39%6(2(
#$%&'('%')%*+(.134(,&7+(2(/-(9-'J;%/%(/&+O+(,1/5-:/
9-3.;19/R%S/%*3&;(+:J%*81+1-36(2(
#THU>CD@AA@M@?GHCGHBV@AA@MGC@IC>E@AW>AXNHYZV>A[NHYGBG
C@GXC>VGAIBGY>GMGBGBCGY@NHC@GXI@?@M>EX@HC
\CGY@]^_
`NBFaBBN>H]^_
\abXGc]_
de fghg""
#$5%(.-9:+(1+(-3(/5%(9-'J;%/1-3(2(-.(/5%(/&+OR%34130(/5%(
J*-i%9/6(2(
#j*%&O130(:J(/5%(/%&'('&7()%(/*&:'&/19(2(&+(/%&'('%')%*+
'&7(.134(1/(41..19:;/(/-(J%*.-*'(&+(1341814:&;+(-39%(&0&136(2(
#K;;(/&+O+(3%%4(/-()%(9-'J;%/%4(2()%W>A@CD@C@GXWNHGMMU
41++-;8%+6(2
#THU>CD@AA@M@?GHCGHBV@AA@MGC@IC>GIk>aAHNHYZX>aAHNHYGBG
BCGY@NHC@GXI@?@M>EX@HC
\CGY@]^_
`NBFaBBN>H]^_
\abXGc]_
hl mnop
qM@GB@CaAH>?@A
Downloaded from hlayiso.com
01 456789666 5 796
!"#$%!&'&#&(
( ( )
*(+,-./0123425675562829:,/.;19,59.5620/8-<17,2=>>
*(?32.59;@562,7A:2/;562,/.;19,5=>>
*(B82C.24/59759/.:D7@E27887.423062820/8-28:F,/D<179.7.5:0911E2711/023
5/:575256298,7:2FG920::2<787521@=>>
*(+59D27.3<17,27827887.423;/8.24/59759/.:062827112D<1/@22:9.G/1G23
782<82:2.5=>>
*(+887.427D2259.4E25022.,/.;19,59.42D<1/@28:F2D<1/@22:=>>
*(H7-29.52.59/.:;/89.528G2.59/.,1278:/5675<78592:9.G/1G23D7@;2217527:2=>>
*(I7,6<785@67:562/<</85A.95@5/2J<82::69:F628/0./<9.9/.:F;2219.4:F
K/.;19,59.4<78592:D7@82,/4.9:2567556298G920:78239;;282.5=>>
*(+.71@:2562,7A:2L:M/;,/.;19,5E@E827-9.4953/0.9.5/39;;282.5<785:F
IG71A752562:95A759/./EN2,59G21@=>>
*(O17D2:69;59.4:6/A13E27G/93237.37N/9.52;;/85:6/A13E2D732=>>
*(P982,5,/.;19,59.4<78592:5/0783:;9.39.4F;/,A:9.4/.:/1A59/.:=
*(P2G9:2FO879.:5/8D</::9E1207@:/;82:/1G9.4562,/.;19,5=>>
*(K/.;19,59.4<78592:74822/.,89528975/2G71A75256271528.759G2:=>>
*(Q62E2:5</::9E12:/1A59/.L:M9:F782:212,5237.39D<12D2.523=>>
*(B78592:DA:5748225//.562E2:5:/1A59/.=>>
*(IG71A752FR/11/0A</.5629D<12D2.5759/./;562:/1A59/.L:M=>>
*(H/.95/8<8/482::5/2.:A825675562,/.;19,567:E22.82:/1G23=>>
*(IJ<2859:2/.67.319.4,/.;19,5D7@E2:/A8,23;8/D/A5:932562EA:9.2::=>>
8S 9T#!'!UVWV!!X
YZ[\1]
%'&
COA:9.2::2:DA:52.:A825675562<8/,2::9:;7987.3587.:<782.5062.32719.4
0956711^_àbcdeafgh>>
CK/.;19,5,7../57107@:E282:/1G23F7G/9323F219D9.7523i56282;/82<2/<12.223
jkhlac_dhmknhjkhocdc^ahekdpl̀ejhnj̀md̀hchjacoh̀dhk_qa_hjkhnk_rh̀dhmc_okdsgh>>
CQ62:A,,2::/;7EA:9.2::32<2.3:/.562:A,,2::;A1,/17E/8759/.09569.7
jacohjkhadft_ahjmcjhjmahkuvaej̀bafhkphjmahutfd̀affhnl̀lhuahoajgh>>h
C+.@/56288212G7.5,/.,1A:9/.82175235/56239:59.,59/.E25022.
4892G7.,2:7.3,/.;19,5F,8952897;/8:A,,2::;A1527D<28;/8D7.,2F<67:2:/;
527D32G21/<D2.5F,/882,5<8/,23A825/327109564892G7.,2:=
L+.@wJxM LxM
yz1{
|}~~~
Downloaded from hlayiso.com
123456333829463
2638451695845
96843 42 88
!"#$$
%#&&''"'$(')''$*#'+,"'$, $"&-#"$$ .
/#'#,$&$0!""'00&!-$',1$2'&1,"'$$ IJ
3,*'0$&$',1$'+'-21'$$
4, -#*$"&-#"$#$5'$)62-,"'$$ H
/"-!0#$$
4534788
9,:!$$
;,-:0#0<$#'2',#$$ .
3:5'0#0$$
=#*#,-#:>?@,12-'0$$
883 KH
A9;3=$BC$',"5$"12'D$
;--",'$E$1,60$#&$,--$'F!#'1'0$,'$1'G$$
;--",'$L$1,6$#&$-:$01'$&$5'$'F!#'1'0$,'$1'G$$
;--",'$M$1,60$)5''$'F!#'1'0$,'$$1'$,$,--G$$$
8836845 KH
75988 NH
$$$ O-',0'$!$+'$
$
Study this subject
Recommended for this subject

Memorandum
Business Studies Grade 12 Paper 1 Limpopo June 2024 Memo

Memorandum
Business Studies Grade 12 Paper 2 KZN Prelim 2024 Memo
%20June%202024%20Question%20Paper_hlayiso.com_--11936e49-b2e2-4b0c-a897-9ba405666580/v1-16192050a36172f1cbdf/card.webp)
Question paper
Business Studies Grade 12 P2 Gauteng June 2024 QP (Afr)
%20June%202024%20Question%20Paper_hlayiso.com_--796a645e-d833-46c0-ab8a-10ce7d6f9e8c/v1-ea69884a8c9f6933b537/card.webp)
Question paper
Business Studies Grade 12 P2 Gauteng June 2024 QP (Eng)

Question paper
Business Studies Grade 12 P2 November 2024 NSC QP (Afr)
%20June%202024%20Question%20Paper_hlayiso.com_--49c7d55b-6c2c-436c-811b-0cf03cc1d777/v1-24536a5817d2f19214de/card.webp)
Question paper
Business Studies Grade 12 P2 NSC June 2024 QP (Eng)
More from Grade 12 Business Studies

Question paper
Business Studies Grade 12 P1 Eastern Cape June 2025 QP (Eng)

Question paper
Business Studies Grade 12 P1 Free State Mock 2025 QP
%20June%202025%20%20Possible%20Asnwers--4ebc816c-e285-4ea9-908e-0168044732f4/v1-46f460592da3f68239bc/card.webp)
Question paper
Business Studies Grade 12 P2 Gauteng June 2025 QP (Afr)

Memorandum
Business Studies Grade 12 Paper 2 North West Mock 2025 Memo

Question paper
Business Studies Grade 12 P1 NSC June 2025 QP (Eng)

Question paper