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WorksheetsUnit 2 Company Law
Total questions: 10
Worksheet time: 5mins
Name
Class
Date
1.
Can the company secretary be a director of the company?
a)
Yes, but not the sole director.
b)
Yes, and become the sole director.
c)
No, it's impossible.
d)
I need to study more.
2.
Do the courts like to interfere in matters connected with fiduciary duty?
a)
Yes, they like to interfere completely.
b)
They don't care.
c)
No, they are reluctant.
d)
I need to study more.
3.
May a partnership cease to exist when a partner dies?
a)
No.
b)
Yes.
c)
It exists for only a short time.
d)
I need to study more.
4.
What are the owners of a company insulated against?
a)
Personal liability.
b)
Public liability.
c)
They are not insulated against anything.
d)
I need to study more.
5.
What are the two accounting tools mentioned in the text?
a)
Liabilities.
b)
There is nothing mentioned like this.
c)
Balance sheet; profit and loss.
d)
I need to study more.
6.
What are the two types of duty owed by directors of a company?
a)
Duty of interaction.
b)
Duty of care; fiduciary duty.
c)
They don't owe any duty.
d)
I need to study more.
7.
What can a company own in its own name?
a)
Only the directors own.
b)
The company can't own.
c)
Property.
d)
I need to study more.
8.
What can be lifted if the company is used to perpetrate fraud or act ultra vires?
a)
The carporate veil may be lifted.
b)
The company loses money.
c)
An expensive fine may be lifted.
d)
I need to study more.
9.
What two documents constitute the 'constitution of a company'?
a)
An article of association & contract.
b)
Memorandum of association & letter of application.
c)
Memorandum of association & article of association.
d)
I need to study more.
10.
Who issues a certificate of incorporation?
a)
The company itself.
b)
A governental authority.
c)
It's issues automatically.
d)
I need to study more.
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