BCLAW Ch 7 Business Org
Authored by JOEL JW LIM
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Professional Development
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A sole proprietor has ___ for the debts of the sole proprietorship.
unlimited liability
liability limited by shares
liability limited by gurantee
joint and several liability
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a partnership, each partner has ___ for partnership debts.
liability limited by shareholding
liability limited by gurantee
unlimited joint and several liability
no liability
3.
FILL IN THE BLANKS QUESTION
1 min • 1 pt
A partnership is also known as a (a) .
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following business organisation is a separate legal entity at law?
Sole Proprietorship
Company
Partnership
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A ___ company is a company whose constitution restricts the right of their members to transfer company shares and imposes a cap of 50 members at any point in time.
Public Company
Small Company
Related Company
Private Limited Company
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of company is able to raise finance from the public generally by selling shares at an exchange?
Private company
Public company
Exempt Private Company
Small Company
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following do NOT apply to exempt private companies?
It is a public company.
It is a private company.
It does not have more than 20 members.
It is exempted from filing financial statements with ACRA.
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