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WorksheetsLimited Companies
Total questions: 13
Worksheet time: 8mins
The minimum number of shareholders for Private Companies is limited to ONE and a maximum of an unlimited number of shareholders
True
False
Assets of Corporations are the same as assets of ?
Club and Societies
Sole Proprietorship
Partnership
Medium sized businesses
Public Companies have their shares (a) for fixed periods and any other form of subscriptions.
What is the additional items for current liabilities of a corporation ?
Corporation Tax Payable
Accrued director's remuneration
Bonds
Final dividend payable
Additional items for long term liabilities of a corporation
Bank loans
Bonds
Debenture
Mortgage loans
What is the liability type for debenture
Long-term Liability
Non-current Liability
Current LIability
Which one is the correct answers about characteristics of corporations?
Has the same rights as a person as they become a separate legal entity once registered
Liability of shareholders are limited to the amount of their investment
Company's life will be discontinued when there are changes in ownership
Ownership is divided into shares
Who is the owner of the company?
Shareholders
Secretary
Accountant
Stockholders
Shareholders can commit the corporation to a contract
True
False
Shareholders will provide capital and runs the business
True
False
Are companies obligated to pay tax?
Yes
No
What is the law that is related to corporation?
(a)
Corporation is a ___
can be a mutual agency
registered business organisation
Companies act 1961
capital contributed by peoples
