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WorksheetsBusiness Entities in Malaysia Quiz Topic 3
Total questions: 10
Worksheet time: 5mins
Which of the following is NOT a type of business entity in Malaysia?
Sole Proprietorship
Limited Liability Partnership (LLP)
Corporation
Partnership
What act governs the registration of Sole Proprietorships in Malaysia?
Companies Act 2016
Partnership Act 1961
Registration of Business Act 1956
Limited Liability Partnership Act 2012
A Partnership is defined as the relation between persons carrying on business with the view of profit. Which of the following is NOT one of the elements required to form a partnership?
A written agreement
Relation
A business
With a view of profit
In a Sole Proprietorship, which of the following statements is TRUE?
It requires a large amount of capital to start.
The owner has unlimited liability.
It is governed by the Companies Act 2016.
It has a separate legal existence from the owner.
What is the maximum number of partners allowed in a general partnership under Malaysian law?
10
20
50
No limit
Which of the following describes a nominal partner in a partnership?
A partner who actively participates in the management of the business.
A partner who takes no active part in the management but is liable as a partner.
A person who lends their name to the firm without any real interest.
A partner who has a financial stake but does not share profits.
What is the primary effect of incorporating a company under the Companies Act 2016 in Malaysia?
The company becomes a non-profit entity.
The members are personally liable for the company's debts.
The company is treated as a separate legal entity.
The company must be managed by its shareholders.
Which of the following is TRUE regarding the dissolution of a partnership?
A partnership cannot be dissolved by mutual agreement.
A partnership can only be dissolved through a court order.
A partnership can be dissolved if one partner declares their intention to terminate it.
A partnership cannot be dissolved by death or bankruptcy.
Which of the following business entities requires formal registration under the Companies Act 2016?
Sole Proprietorship
General Partnership
Limited Liability Partnership (LLP)
Private Limited Company (Sdn. Bhd.)
What is the maximum number of members in a private company in Malaysia?
20
50
100
No maximum
