Business Organizations Flashcard

Front

What is a sole proprietorship?

Back

A business structure where a single individual owns and operates the business.

Front

What is a key characteristic of a partnership?

Back

It is a formal arrangement between two or more parties

Front

What advantage does a corporation provide?

Back

Separation of personal and business assets

Front

What is a Sendirian Berhad (Sdn Bhd) company?

Back

A private limited business entity in Malaysia

Front

How many shareholders can a Sdn Bhd company have?

Back

1 to 50 shareholders

Front

What does SSM stand for?

Back

Companies Commission of Malaysia

Front

What is the primary role of SSM?

Back

To ensure compliance with corporate laws

Front

What is a key feature of a sole proprietorship?

Back

No legal distinction between owner and business

Front

Which of the following is NOT a type of business ownership mentioned? Franchise, Corporation, Partnership, Sole Proprietorship

Back

Franchise

Front

What is the legal distinction of a corporation?

Back

It is treated as a separate entity from its shareholders.