Which of the statements are true with regard to partnership?
I. Is not legally separate entity and has no continuity of existenceย
II. Personal guarantee ofย partners is redundantย
III. An incoming partner will only be liable for debts created after his/her admission as a partnerย
IV. The outgoing partner is liable for new debt incurred after his/her resignation
The following shareholders are regarded as substantial shareholders
Which of the following is the main reason for bank taking personal guarantee from partner?
Which of the following is legislatively that has separate personality under Malaysian Law?
In order to reward ordinary shareholders without draining cash flow, the company declares
The following are the advantage of Partnership EXCEPT
Which of the following is the simplest form of business to be set-up?
Under Sole Proprietorship, which of the following statements are true?
I. It is firm with no separate legal entityย
II. A guarantee from the Sole Proprietorship for the debts owned by the business is no value
III. It is a business with separate legal entity
IV. To file Financial Statements to SSM
The following are avenue for directors to siphon funds out of company
Under Malaysian Law, which of the following Types of Borrowers has unlimited liability?
Which of the following is true with regard to a private exempt company?
I. A company does not have corporate shareholders
II. Total number of shareholders is not more than 20
III. Enjoy tax exemption for a period of 5 years
IV. Owns less than 20% of issued shares of another company
Which of the following statements are true with regard the Limited Liability Partnership (LLP)?
I. Must be registered with the Registrar of Limited Liability Partnership and a Certificate of Registration will be issued to the effect
II. LLP may hold property in its own name
III. Must be registered under Companies Act 1965 and Certificate of Incorporation will be issued to that effect
IV. LLP has perpetual succession and can have a change of partners and continue its business entity
The parent company of a corporate structure own all or more than 50% of issued shares of mother company is called
Who is the owner of the Limited Liability Companies?
Which of the following have no legal capacity to borrow?
I. A minor
II. Individual below 21 year
III. Individual adjudicated bankrupt
IV. A discharge bankrupt
An association of two or more persons to do business with a view to profit is
Except for legal firm and professional practices, the numbers of partners in Partnership is
When a Sole Proprietorship or a Partnership is registered, the following certificate is issued
Why it is important and essential for credit officer to recognise the legal status of the loan applicant?
Under the Registration of Business Act 1956, business is required to register at
June 25, 2026
