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Types of Borrowers Quiz

Authored by UNNATI PARMAR

Other

Professional Development

11 Questions

Used 3+ times

Types of Borrowers Quiz
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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a business owned by an individual under a trade name or his own name in case of Professionals?

Proprietorship

Partnership firm

Limited Liability Partnership

OPC

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the liability of a Partnership firm?

Unlimited

Limited

Perpetual

None

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the key person in a Limited Liability Partnership?

Proprietor

Partners

Designated Partners

Shareholders

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the maximum number of partners in a Limited Liability Partnership?

50

Unlimited

200

None

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the definition of a Private Limited Company?

A company that has only ONE PERSON as its member/share holder

A legal entity where a GROUP of people come together to form a company

A company with unlimited liability

None of the above

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the minimum number of shareholders required for a Public Limited Company?

1

2

7

None

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the liability of a Trust?

Limited

Unlimited

Perpetual

None

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