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WorksheetsEntrepreneurship Quiz
Total questions: 8
Worksheet time: 5mins
It is mandatory to register your business under ACRA as long as you undertake a commercial transaction.
True
False
What is the minimum investment to register a Sole Proprietorship in Singapore?
$0
$100
$50,000
$1
What is the minimum age to incorporate a business in Singapore?
13
21
18
16
The first step in Singapore company registration process is...
... registering the company under ACRA
... reserving the desired name for the company
Select the characteristics of a sole proprietorship (click all that may apply)
Only Singapore citizens, Singapore permanent residents or EntrePass holders are allowed to register a sole proprietorship.
The personal assets of the owner are protected from the liabilities and business risks of the company. The owner has limited liability.
Profits are taxed at personal income tax rates without access to tax incentives.
Harder to attract outside investment, hire staff and scale globally.
Select the characteristics of a private limited company (click all that may apply)
Anyone is allowed to register a private limited company.
The personal assets of the owner are protected from the liabilities and business risks of the company. The owner has limited liability.
No perpetual succession and non-transferrable ownership to another person
A private limited entity is the most scalable, the most advanced, and the most flexible.
Business Registration needs to be renewed every 5 years.
Yes
No
HDB home addresses cannot be used as Business Registration addresses.
True
False
