WorksheetsChapter 3
Total questions: 10
Worksheet time: 20mins
A ______________ is owned by one entrepreneur and sometimes, the owner may employ a worker for assistance
Partnership
Sole proprietorships
Public company
Private company
When partnership business suffer loss persistently the business can be terminated
True
False
Section 3(1) define Partnership as
The relation which subsists between persons carrying on business in common with a view of profit
A sole Trader
A corporation
A business
Partnership is terminated by ____________ when the partners mutually agree to dissolve the partnership.
Agreement
Operation of law
Death or bankruptcy
Supervening illegality
A partnership is said to be dissolved upon the occurrence of the following EXCEPT
When one of the partner died
When one of the partner migrates
When one of the partner became mentally ill
When the partners are granted court order to dissolve the partnership
State the regulation, which regulates the companies in Malaysia
The Companies Act 1985
Contract Act 1950
The Companies Act 2016
The Listing Rules
The principle that states a company is a person separate from its members is known as
Utmost good faith
Separate legal entity
Bona fide
Caveate emptor
Relationship between partners in the absent of agreement is based on
section 3(1)
section 4
section 26
section 37
All the following are true about partnership EXCEPT
There may be 100 partners
It must be a business for profit
The formation requires no written agreement
Partners are jointly liable in criminal case
All the partners are entitled to share equally in the capital and profits of the business, and must contribute equally towards the losses sustained by the firm
Section 26 (a)
Section 26(b)
Section 26 (c)
Section 26 (d)
