
Chapter 3 - Forms of Ownership
Authored by Sanele Ngema
Business
10th - 12th Grade
Used 41+ times

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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
True or false? In order to have legal personality, the business MUST be registered.
True
False
A business cannot have legal personality
2.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
A business with legal persona can...
enter into contracts in its own name
own property under its own name
sue
be sued
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
True or false? It is NEVER the business that has limited or unlimited liability, but always the OWNER that has limited or unlimited liability.
True
False
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the owner has ________ liability, she could lose her personal assets if the business is not able to pay its debts.
limited
unlimited
5.
FILL IN THE BLANK QUESTION
45 sec • 1 pt
In SA we have a __________ tax system. This means the more a person earns, the higher the percentage tax that she must pay.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The South African corporate tax rate is...
28%
48%
14%
15%
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
If a business has continuity, only death or the retirement of an owner will affect the continued existence of the business as a legal entity.
True
False
A business can never have continuity
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