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Entrepreneurship Quiz

Authored by Niranjana K Doraraj

Business

Professional Development

Used 4+ times

Entrepreneurship Quiz
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8 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

It is mandatory to register your business under ACRA as long as you undertake a commercial transaction.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the minimum investment to register a Sole Proprietorship in Singapore?

$0

$100

$50,000

$1

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the minimum age to incorporate a business in Singapore?

13

21

18

16

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The first step in Singapore company registration process is...

... registering the company under ACRA

... reserving the desired name for the company

5.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Select the characteristics of a sole proprietorship (click all that may apply)

Only Singapore citizens, Singapore permanent residents or EntrePass holders are allowed to register a sole­ proprietorship.

The personal assets of the owner are protected from the liabilities and business risks of the company. The owner has limited liability.

Profits are taxed at personal income tax rates without access to tax incentives.

Harder to attract outside investment, hire staff and scale globally.

6.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Select the characteristics of a private limited company (click all that may apply)

Anyone is allowed to register a private limited company.

The personal assets of the owner are protected from the liabilities and business risks of the company. The owner has limited liability.

No perpetual succession and non-transferrable ownership to another person

A private limited entity is the most scalable, the most advanced, and the most flexible.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Business Registration needs to be renewed every 5 years.

Yes

No

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