Let's Test your Understanding

Which of the following refers to the term 'liabilities' of a member in Topic 2?

• The responsibilities of the members in case of any situations

• The responsibilities of the members in case the company wound up

• The responsibilities of a the company to itself

• The responsibilities of the company to its members

Which of the following is NOT the information required during an LLP registration?

• Name of the proposed LLP

• Nature of the partnership before the proposed LLP

• Registered office of the proposed LLP

• Details of the members of the proposed LLP

Please choose multiple answers for the following question.

Which of the following persons can register an LLP?

• An aunty selling laksa at the side of the road.

• 50 partners in an architecture firm.

• A loan shark giving out

• An F&B business and a fashion business forming a joint-venture.

Which of the following is NOT the principles in the formation of a private company?

• Has not more than 50 members

• Right to transfer its shares is prohibited

• The public is permitted to subscribe its shares

• The public is prohibited from depositing money into the company

Must foreign LLP / Company register itself in Malaysia?

• Yes, to ensure it can operate legally in Malaysia

• Yes, to boost the economy of Malaysia

• No, because it is not their obligations to do so

• No, because it is forbidden for them to operate in Malaysia

Cropmate Berhad is a ​ (a) ____ because there is the word 'Berhad' in its name.

Whereas, Bridgestone Tyre Sales (Malaysia) Sdn. Bhd. is ​a ​ (b) ____  because of the word 'Sdn Bhd' in its name.

• a) Public Company

  b) Private Company

• a) Private Company

  b) Public Company

• a) LLP

  b) partnership

• a) partnership

  b) LLP

Please choose multiple answers for the following question.

Which pairs are TRUE?

• Holding Company --> Company owning the majority shares of another company

• Subsidiary Company --> Company holds the shares of the other company fully

• Ultimate Holding Company --> Company owning all the shares in another company

• Wholly Owned Subsidiary --> A company fully owned by another company

Which pair is TRUE?

• Limited by Shares --> Responsibility towards the paid up shares

• Limited by Guarantee --> Responsibility towards the guarantee / promise made

• Unlimited guarantee --> Full liability of the company towards itself only

Who registers an LLP?

• Creditors of the proposed LLP

• The compliance officer of the proposed LLP

• The proposed LLP itself

• The member of the proposed LLP who is living abroad

What is the maximum number of members in an LLP?

• No limit

• 50 persons

• 20 persons

• 2 persons