Corporate Law I Quiz

What is the primary purpose of business law?

• To promote business

• To regulate business conduct

• To increase profits

• To create monopolies

Which of the following is NOT a source of law in Malaysia?

• Constitution

• Custom

• Fiction

• Legislation

Which Act governs companies in Malaysia?

• Companies Act 1965

• Companies Act 2016

• Business Registration Act 1956

• Partnership Act 1961

A sole proprietorship in Malaysia is owned by:

• Two persons

• A company

• One person

• A group of individuals

Which of the following is NOT a type of business entity in Malaysia?

• Sole Proprietorship

• Partnership

• Limited Liability Partnership

• Cooperative Society

What is the minimum number of partners required to form a partnership?

• 1

• 2

• 3

• 5

Which business entity has unlimited liability?

• Sole Proprietorship

• Partnership

• Limited Liability Partnership

• Both a and b

Which of the following is a key distinction of a company?

• Unlimited liability

• Separate legal entity

• No perpetual succession

• Informal registration

Which business entity is NOT considered a separate legal entity?

• Sole Proprietorship

• Limited Liability Partnership

• Company

The maximum number of partners in a partnership is:

• 10

• 20

• 50

• Unlimited