Question 1

Which of the following statements about a corporation is NOT true?

Accepted Answer

A) A corporation can sue and be sued. 
B) A corporation has perpetual succession. 
C) There are onerous administrative and reporting requirements. 
D) Share transfer requirements are complex. 
A) A corporation can sue and be sued. 
B) A corporation has perpetual succession. 
C) There are onerous administrative and reporting requirements. 
D) Share transfer requirements are complex.

Question 2

A trustee is a person who benefits under the trust.

Accepted Answer

A) True 
 B)False

Question 3

A partnership is the relationship that exists between persons carrying on a business in common with a view to profit.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following statements about a sole trader is NOT true?

Accepted Answer

A) Most small businesses fail within the first five years of their establishment. 
B) The death of the sole trader usually means the death of the business. 
C) The degree of personal involvement by the sole trader can make the business difficult to sell. 
D) Sole traders have limited liability for the debts of the business. 
A) Most small businesses fail within the first five years of their establishment. 
B) The death of the sole trader usually means the death of the business. 
C) The degree of personal involvement by the sole trader can make the business difficult to sell. 
D) Sole traders have limited liability for the debts of the business.

Question 5

Which of the following statements about a partnership is NOT true?

Accepted Answer

A) Partners must keep their capital separate for tax purposes. 
B) It can be difficult to sell a share in a partnership. 
C) Partners are unable to contract with the firm. 
D) Partnerships can be cheap and quick to establish. 
A) Partners must keep their capital separate for tax purposes. 
B) It can be difficult to sell a share in a partnership. 
C) Partners are unable to contract with the firm. 
D) Partnerships can be cheap and quick to establish.

Which of the following statements about a corporation is NOT true?

A trustee is a person who benefits under the trust.

A partnership is the relationship that exists between persons carrying on a business in common with a view to profit.

Which of the following statements about a sole trader is NOT true?

Which of the following statements about a partnership is NOT true?

Legal Foundations

Legal Systems

How Law Is Made: Precedentstatute Law

Civil Liability: the Law of Torts and Negligence

Applications of Negligence to Business

Introduction to Contracts

Agreement Between the Parties

Intention to Create Legal Relations

Consideration

Capacity of the Parties

Genuine Consent

Is the Contract Legal

Terms of the Contract

Rights and Liabilities of the Parties,discharge and Remedies

Remedies in Contract

Statutory Consumer Guarantees and the Australian Consumer Law

General and Specific Consumer Protections Under the Acl

Introduction to Companies and Incorporated Associations

Agency

Partnerships

Other Business-Related Torts

Insurance

Sale of Goodsbusiness to Business

Property and Mortgages

Intellectual Property

Ethics and Business Practice

Criminal Law in a Business Context

Competition Law

Insolvency and Debt Recovery

The Work Environment and the Employment Relationship

Filters

Exam 21: Choosing a Business Entity

Which of the following statements about a corporation is NOT true?

A trustee is a person who benefits under the trust.

A partnership is the relationship that exists between persons carrying on a business in common with a view to profit.

Which of the following statements about a sole trader is NOT true?

Which of the following statements about a partnership is NOT true?

Legal Foundations

Legal Systems

How Law Is Made: Precedentstatute Law

Civil Liability: the Law of Torts and Negligence

Applications of Negligence to Business

Introduction to Contracts

Agreement Between the Parties

Intention to Create Legal Relations

Consideration

Capacity of the Parties

Genuine Consent

Is the Contract Legal

Terms of the Contract

Rights and Liabilities of the Parties,discharge and Remedies

Remedies in Contract

Statutory Consumer Guarantees and the Australian Consumer Law

General and Specific Consumer Protections Under the Acl

Introduction to Companies and Incorporated Associations

Agency

Partnerships

Other Business-Related Torts

Insurance

Sale of Goodsbusiness to Business

Property and Mortgages

Intellectual Property

Ethics and Business Practice

Criminal Law in a Business Context

Competition Law

Insolvency and Debt Recovery

The Work Environment and the Employment Relationship

Filters