Business Credit Analysis Quiz

What is the new SME definition endorsed at the 14th NSDC Meeting in July 2013?

• Firms with sales turnover not exceeding RM50 million OR number of full-time employees not exceeding 200

• Firms with sales turnover not exceeding RM40 million OR number of full-time employees not exceeding 150

• Firms with sales turnover not exceeding RM20 million OR number of full-time employees not exceeding 75

• Firms with sales turnover not exceeding RM30 million OR number of full-time employees not exceeding 100

Under the Partnership Act 1961, how many partners can a partnership have?

• Maximum of 20 partners

• Maximum of 100 partners

• Unlimited partners

• Maximum of 50 partners

What is the advantage of a Limited Liability Partnership (LLP) compared to a normal partnership?

• Unlimited liability for partners

• No registration required

• Limited liability protection for partners

• No legal entity status

What is the minimum number of persons required to incorporate a Limited Liability Company (LLC) under the Companies Act 1965?

• 1 person

• 2 persons

• 3 persons

• 4 persons

What is the main characteristic of a Sole Proprietorship in terms of liability?

• Limited liability for the owner

• Unlimited liability for the owner

• No liability for the owner

• Shared liability with partners

What is the maximum number of partners allowed in a partnership under the Partnership Act 1961?

• Maximum of 10 partners

• Maximum of 20 partners

• Maximum of 40 partners

• Maximum of 30 partners

What is the legal status of a Limited Liability Company (LLC) in terms of liability?

• Partners have unlimited liability

• Partners have limited liability

• No liability for partners

• No legal entity status

What is the requirement for transferring shares in a Private Limited Company (Sdn Bhd) under the Companies Act 1965?

• Approval of the Board of Directors

• Approval of the government

• Approval of all shareholders

• No approval needed

What is the maximum share capital that a company can raise?

• Unlimited

• Limited to the issued share capital

• Limited to the authorized share capital

• Limited to the paid-up share capital

Who are responsible for the implementation of business development and corporate strategies in a company?

• Directors

• Bankers

• Shareholders

• Credit Officers