BUSINESS ORGANIZATIONS

The followings are business organizations in Malaysia, EXCEPT

• Sole Proprietorship

• Food Stall

• Company

• Partnership

Business organization is also known as business vehicle.

• TRUE

• FALSE

Which of the following is NOT the factors that entrepreneur should consider before deciding type of business entity.

• Procedure

• Liability

• Employee

• Continuity of Business

This type of business entity is the combination or hybrid of company and partnership.

• Limited Liability Partnership

• Sole Proprietorship

• Unlimited Company

• Firm

If sole proprietor dies or bankrupt, the business will be

• transferred to someone else.

• operated as usual.

• expanded.

• dissolved.

Sole proprietorship is the simplest form of business organization.

• True

• False

The definition of _______ is when two or more persons carrying on business with a view of profit.

• Sole Proprietorship

• Company

• Partnership

• Limited Liability Partnership

Section 7 of the Partnership Act provides that every partner is an ___________ of the firm and his other partners.

• proxy

• member

• director

• agent

The maximum number of partners in a normal partnership is 20.

• True

• False

According to Business Registration Act, a partnership is to register within _____ days of its commencement.

• 30

• 14

• 60

• 90