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Company Law

Total questions: 35

Worksheet time: 35mins

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 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.
6.
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. 
7.
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. 
8.

Which is not a characteristics of a company?

a)

Legal personality

b)

Limited liability

c)

Perpetual succession

d)

No common seal

9.

Who takes full legal responsibility in a company limited by shares?

a)

The shareholders

b)

The owners

c)

The directors

d)

The government

10.

The process of forming a company including where it becomes a legal entity is known as ______.

a)

Incorporation

b)

A franchise

c)

Liquidity

d)

Goodwill

11.

The word Company is derived from

a)

French

b)

Latin

c)

Japan

d)

Indian

12.

---------- is the most popular types of companies

a)

Statutory companies

b)

Association for profit

c)

Registered companies

d)

One person company

13.

The minimum number of shareholders in a private company

a)

2

b)

7

c)

50

d)

200

14.

Who is the head and brain of the company?

a)

Shareholders

b)

Employees

c)

Directors

d)

Stakeholders

15.

ROC stands for

a)

Regional office certificate

b)

Registrar of Companies

c)

Region of corpus

d)

Register of companies

16.

The word 'Ltd' is used for--------- company

a)

Private company

b)

Public Company

c)

Government company

d)

Foreign company

17.

---------- is the constitution of the company

a)

Memorandum

b)

Articles

c)

Prospectus

d)

Agenda

18.

Articles of Association is the foundation upon which the whole structure of the company is built up

a)

True

b)

False

19.

Memorandum of Association deals with

a)

Insiders

b)

Outsiders

c)

Directors

d)

Employees

20.

1. The term ‘ultra vires’ means------------------

a)

with the power

b)

Beyond the power

c)

Directors power

d)

Shareholders power

21.

-----Document contains the rules and regulations regarding the internal management

a)

Memorandum

b)

Articles

c)

Certificate of incorporation

d)

Minutes

22.

MOA is a ----------------------------document

a)

Principal

b)

Secondary

c)

Optional

d)

Computer

23.

Articles of Association is subordinate to --------

a)

Company Law

b)

Central Government

c)

Memorandum

d)

Prospectus

24.

Dividends can be define as _____

a)

a payment made by a company to its shareholders.

b)

a long-term Debt Instrument

c)

a financial market that handles the buying and selling of company stocks

d)

a documents which illustrates the structure of a company

25.

Property of the company belongs to

a)

Shareholders

b)

company

c)

members

d)

promoters

26.

The liability of members if company is limited by shares

a)

Unpaid value of shares

b)

Guarantee amount

c)

Unlimited liability

d)

none

27.

In Malaysia, the main legislation that govern companies is

a)

Companies Act 1965

b)

Companies Act 2016

c)

Companies Ordinan 2016

d)

Companies Ordinan 1965

28.

Sole proprietorship is

a)

one person only

b)

2-20 persons

c)

unlimited

d)

2-50 persons

29.

Partnership are governed under the

a)

Partners Act 1961

b)

Partnership Act 1991

c)

Partnership Act 1961

d)

Partners Act 1991

30.

A legal entity separate from its members is for

a)

Sole Proprietorship

b)

Company

c)

Liability Limited Partnership

d)

Partnership

31.

Managed by the board of directors is one of the characteristic for

a)

Company

b)

Sole Proprietorship

c)

Partnership

d)

Limited Liability Partnership

32.
A legal person ... rights and duties under the law just like a natural person.
a)
owes
b)
invests
c)
manages
d)
owns
33.
A legal person cannot...
a)
enter into contracts
b)
sue others
c)
own property
d)
avoid liability
34.
A company doesn't have...
a)
shareholders
b)
board of directors
c)
creditors
d)
absolute power 
35.
What does the word "insolvency" mean?
a)
liability
b)
bankruptcy
c)
incorporation
d)
environment

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