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WorksheetsCHAPTER 2 - FORMS OF BUSINESS OWNERSHIP
Total questions: 20
Worksheet time: 2mins
Which of the following is NOT a type of business ownership?
partnership
sole proprietorship
entrepreneurship
franchise
How many people in a sole proprietorship?
Which are the advantages of sole proprietorship?
Flexible and Minimum Regulatory Requirements
Simplified Taxation
Direct Profits
All of them
Limited Access to Capital, Unlimited Liability & Limited Growth Potential are the disadvantages of sole proprietorship
TRUE
FALSE
Which of the following is a disadvantage of setting up a business as a partnership?
Shared losses
Shared workload
Shared profit
More ideas generated
TRUE
FALSE
In a limited partnership, there are two types of partners: general partners and limited partners.
TRUE
FALSE
There are three types of corporations commonly recognised in business which are Corporation Limited by Shares, Corporation Limited by Guarantee & Unlimited Corporation
TRUE
FALSE
What are the owners of private and public limited companies called?
Stakeholders
Managers
Board of directors
Shareholders
The members of the board of directors of a corporation are chosen by the corporation’s is/are
president and chief executive officer.
creditors.
general partners.
stockholders.
charter members.
A Private Limited Company often referred to as “Berhad” (Bhd), it’s a type of corporation where ownership is privately held, typically by a small group of individuals or families.
TRUE
FALSE
In Corporation Limited by Guarantee, member’s liability is limited to the amount they have agreed to contribute to the company’s assets in the event of its winding up.
TRUE
FALSE
Malayan Banking Berhad (Maybank), AirAsia Berhad, Sime Darby Berhad, and Genting Malaysia Berhad are example of
Public Limited Companies
Private Limited Companies
Any person, company or other institution which owns at least one share in a company
Shareholder
Stakeholder
Board of Directors
Broker
Preference shareholders received a fixed dividend and are paid after ordinary shareholders.
True
False
