Introduction to Company Law

There are how many types of business entities in total?

• 6

• 5

• 3

• 2

According to Partnership Act 1961, a partnership need to be formed by at least how many people?

• 2

• 4

• 6

• 8

In reference to Partnership Act 1961, every partner is a/an ( ) of the firm.

• owner

• representer

• principal

• agent

Limited liability partnership is a/an ( ) and has a legal personality separate from its partners

• independent person

• general partnership

• body corporate

• organization

The liability of partner is also not limited under a limited liability partnership (LLP).

• True

• False

Which of the following is a type of related companies?

• Company limited by guarantee

• Public listed company

• Wholly owned subsidiary

• Exempt private company

Under a company limited by shares, if a member has fully paid up on his shares, he is still required to make further contributions to finance the debt if the company is wound up.

• True

• False

There is no limit placed on the liability of a member of a/an ( ).

• Limited partnership

• Limited liability partnership

• Private company

• unlimited company

According to section 42 of the Companies Act 2016, a company limited by shares not more than ( ) may be registered as a private company.

• 30 shareholders

• 50 shareholders

• 20 stakeholders

• 50 stakeholders

An exempt private company is not prohibited from lending or giving financial assistance to its ( ).

• directors

• shareholders

• stakeholders

• customers