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Total questions: 15
Worksheet time: 9mins
What is the full form of LLP?
last limited partnership
Little liability partnership
Limited liability partnership
None of the above
WHAT IS THE MINIMUM NUMBER OF MEMBER REQUIRED TO FORM A PUBLIC COMPANY?
2
4
7
9
The memorandum of association contains the objectives of the company
True
False
A company is distinct from its members.
True
False
A company is free to go beyond its objectives mentioned in the memorandum of association.
True
False
Address of the registered office is situated in
AOA
MOA
Prospectus
None of the above
No paperwork (charter or agreement) is required to start which type of business?
Partnership
Franchise
Sole Proprietorship
Corporation
Which type of business allows the owner to keep all of the profit for him/herself?
Partnership
Franchise
Sole Proprietorship
Corporation
Someone who wants to control every aspect of their business should form this type of business.
Sole Proprietor
Partnership
Corporation
Maria is using her savings to open a shop selling clothing from Mexico. What type of business is it?
Sole Proprietorship
Partnership
Corporation
Max's Cupcake Shop is probably an example of a ...
Sole Proprietorship
Partnership
Corporation
Lillian receives all of the profits and is personally responsible of all of the losses of her business; what type of business does she have?
Sole Proprietorship
Partnership
Corporation
