LAW OF PARTNERSHIP (BUSINESS ENTITIES AND NATURE OF PARTNERSHIP)

LAW OF PARTNERSHIP (BUSINESS ENTITIES AND NATURE OF PARTNERSHIP)

University

20 Qs

quiz-placeholder

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LAW OF PARTNERSHIP (BUSINESS ENTITIES AND NATURE OF PARTNERSHIP)

LAW OF PARTNERSHIP (BUSINESS ENTITIES AND NATURE OF PARTNERSHIP)

Assessment

Quiz

Business

University

Medium

Created by

Norzelawati Umar

Used 20+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 2 pts

Which of the following is not the elements of a partnership as defined under section 3(1) Partnership Act 1961?

with the view of profits

carrying on

relation

capacity

2.

MULTIPLE CHOICE QUESTION

45 sec • 2 pts

"Persons" in section 3(1) PA1961 refers to the number of partner in ordinary/conventional firms and professional firms can be up to _____

ordinary firm = 2-20, professional firm = 2-unlimited

ordinary firm = 2 - 50

professional firm = 2 - 100

ordinary firm = 2 - unlimited

professional firm = 2 - 20

ordinary firm = unlimited partners

professional firm = unlimited partners

3.

MULTIPLE CHOICE QUESTION

45 sec • 2 pts

The word "carrying on" can best be defined as _____.

The business must be in existence & operating

There must be a business ideas

There must be an agreement to set up a business

All partners must involve in the management of the business

4.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

All occupations, trade and profession are considered as partnership

TRUE

FALSE

5.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Valid partnership exist even though not all partners take part in the management of the partnership.

TRUE

FALSE

6.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Societies like Pertubuhan Kasih Umat Malaysia (PKUM) & Persatuan Cinta Gaza (CGM) can be considered as a partnership.

TRUE

FALSE

7.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Is there any existence of partnership in case of joint ownership (tenancy in common) and sharing of gross return?

YES

NO

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