Business Legislation Quiz

What is the definition of Law according to the Oxford English Dictionary?

• A set of guidelines for business operations.

• Rules legally instituted or rules governing activities.

• The body of enacted or customary rules recognized by a community as binding.

• A rule of conduct.

Which Act governs the Sales of Goods in Malaysia?

• Employment Act 1955

• Companies Act (2016)

• Sales of Goods Act (SOGA) 1957

• Occupational Safety and Health Act 1994

What is the main advantage of a Limited Liability Partnership?

• Unlimited liability

• Flexible ownership

• Ease of ownership transfer

• Corporate tax benefits

What is the consequence of incorporation for a company?

• Over-regulation

• Separate legal entity

• Limited regulation by authorities

• Lack of confidentiality

What is the purpose of a trademark?

• Define the layout design of an integrated circuit

• Protect literary and artistic works

• Identify the origin of goods and services

• Indicate the quality of a product

What is the main disadvantage of a Sole Proprietorship?

• Limited liability

• Ease of organisation

• Unlimited liability

• Ability to attract capital

Which Act is related to Employment Relations in Malaysia?

• Securities Commission Act (1993)

• Law of Contract

• Trade Union Act 1959

• Wages Council Act 1947

What is the main characteristic of a Partnership?

• Limited liability

• Divided authority

• Ability to continue indefinitely

• Transferable ownership

What is the purpose of Industrial Design?

• Define the aesthetic aspect of an article

• Protect literary and artistic works

• Identify the origin of goods and services

• Indicate the quality of a product

What is the main purpose of the Companies Act (2016) in Malaysia?

• Regulate employment relations

• Provide guidelines for business operations

• Regulate the formation and operation of companies

• Protect intellectual property rights