A QUICK REFRESH
Authored by Rathivaani Sathiaseelan
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
THE FOLLOWING ARE THE ELEMENTS WHICH DEFINES PARTNERSHIP (S3 OF THE PARTNERSHIP ACT 2016) EXCEPT:
Relationship which subsists between persons ( 2-20)
To have full control of the business
Carrying on business in common
With a view of profit
Answer explanation
Hope you didn't miss the word EXCEPT in the question!
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A DORMANT PARTNER IS A PARTNER ...
Sometimes known as a
general partner.
Takes no active part in the
management of the business but,
still liable as a partner. In return
He may be only an
employee, or he may be also
actually a partner.
He
is not a partner, but in certain circumstances, he may
be held liable as a partner. He may be liable for
Answer explanation
A dormant partner is a partner
who though possibly
known to outsiders as a partner,
takes no active part in the
management of the business but,
still liable as a partner. In return
for investing in the partnership
capital, this partner has a right
only to share in the profits in the
proportion agreed upon. Also known as sleeping partner.
3.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Court may dissolve a partnership pursuant to S37 in the following cases:
when a partner, becomes permanently incapable of performing his duties
when a partner willfully and persistently breach the partnership
agreement
when the business of the partnership can only be carried on at a loss
when a partner becomes bankrupt
Answer explanation
A partnership is dissolved by the death or bankruptcy of any partner by virtue of (S.35(1)).
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The following are significant ways companies can be classified except
liability of its members
status
place of incorporation
private company
relationship with other companies
5.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which of the following does not describe a private company?
Requires a minimum of 2 directors
the name of the company must end with "Sdn Bhd"
A maximum of 50 members only are allowed
can be a company limited by guarantee
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
a limited by guarantee company is a ...
private company
public company
company limited by shares
7.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Essential requirements
of a company - S9 of the CA2016:
a name
a director
a place of business
one or more shares
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