TOPIC 3: BUSINESS ENTITIES

Which business entity is owned and operated by a single individual?

• Partnership

• Sole proprietorship

• Company

A company is separate legal __________ from its members.

Both sole proprietorship and partnership businesses must be registered under ______________.

• Companies Act 2016

• Partnership Act 1961

• Registration of Businesses Act 1956

The maximum number of members for Popular Sdn Bhd is _______.

• 50

• unlimited

• 20

It is mandatory for L & Co Chartered Accountants to have business constitution.

• True

• False

Shareholders of Sime Darby Berhad possess ________ liability concerning the company's debts.

Megah Holdings Sdn Bhd is dissolved _________ whereas Dobi Annisa is dissolved ___________.

• formally : informally

• formally : formally

• informally : informally

• informally : formally

The business entity required to disclose information to the public is ________.

• Sole proprietorship

• Company

• Partnership

Which of the following is a primary advantage of a sole proprietorship?

• Has limited liability

• Shares management responsibilities

• Ease of formation and low setup cost

"Two or more person carrying out business in view of profit" refers to ______________.