Answer them all!
Corporate Law Quiz
Test your knowledge on corporate law with our comprehensive quiz! This quiz covers fundamental concepts such as company formation, duties of promoters, and the implications of incorporating a business.
- 16 Multiple Choice Questions
- Score points for correct answers
- Learn and enhance your understanding of corporate structures
A company is ....
partnership
Corporation
Sole proprietorship
According to section 9 CA2016, a minimum number of member to form a company is
10
30
1
A company where the liability of its members is limited to such amount as the members undertake to contribute in the event of its being wound up is
Company limited by shares
Unlimited company
Company limited by guarantee
According to section 42 CA2016, a private company shall not have more than ...
10 members
50 members
30 members
Which of the following is NOT a promoter's duty?
Duty to disclose
Duty to act in good faith
Duty to avoid taking up any opportunity that belong to the company
Duty to conduct proper audit on the company
A contract made before the company is incorporated is known as
Rescission of contract
Pre-incorporation contract
Corporate veil
Corporate veil
If the company refuse to ratify pre-incorporation contract, the person who shall be responsible is
The promoter who entered the contract
The liquidator
The director
The company secretary
The company comes into existence ....
At the time submission to incorporate is made to CCM
Upon the date specified in the notice of registration
At the time when the company search name is approved
Select all effects of incorporation
Company is able to sue and be sued
Company is able to acquire and own assets
Company enjoys perpetual succession
Company can enter into contracts
The corporate veils principle separate
The company with creditors
The company with members
The company from people behind it
Lifting corporate veil is ...
A principle that will protect members and officers from being liable to debts and obligations of the company
An action where the court ignore the separation of the company from its members
When the provision of constitution is against the CA2016
By the provision of section 38 CA2016, a ,,,,is required to have a constitution.
Company limited by shares
Company limited by guarantee
Unlimited guarantee
The effect of having object clause in constitution is that ....
The company shall have unlimited capacity
The company shall become a company limited by gauarantee
The company shall be restricted from carrying on any business or activity that is not within the object clause.
A constitution is a binding contract between ...
A company and its members
Members and members
Directors and creditors
Instances where corporate veil may be lifted up
Fraudulent trading
Company evade its legal duties
Company is used as shadow of its controllers
By section 21 CA2016, the capacity of company is
Limited up to 5 business activities
Limited up to 10 business activities
Unlimited
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