* not completed

. Establishing a simple partnership involves the parties doing which of the following?

The partners obtaining permission through the Companies Act 2006 correct incorrect

The partners simply agreeing to form the partnership correct incorrect

The partners obtaining permission through the Companies Act 1985 correct incorrect

The partners obtaining permission through Royal Charter correct incorrect

* not completed

. Which of the following is not a type of partner?

Person who joins a business without a view to profit correct incorrect

Salaried correct incorrect

Silent correct incorrect

Partner by estoppel correct incorrect

* not completed

. Which of the following statements is incorrect in relation to partnerships?

Unless otherwise agreed, property will be considered partnership property where it had been purchased with partnership money correct incorrect

Partners are held jointly and severally liable for the partnership debts correct incorrect

Partners must act in good faith correct incorrect

Partners are not agents of the organization correct incorrect

* not completed

. Which of the following is NOT a type of partnership structure?

An unlimited partnership correct incorrect

An extraordinary partnership correct incorrect

A limited partnership correct incorrect

A limited liability partnership correct incorrect

* not completed

. In which ONE of the following cases did the courts 'lift the veil' of incorporation?

Salomon v Salomon & Co Ltd [1897] correct incorrect

Gilford Motor Co Ltd v Horne [1933] correct incorrect

Bentley v Craven [1853] correct incorrect

M Young Legal Associates Ltd v Zahid [2006]) correct incorrect

* not completed

. Which of the following is NOT a method of establishing a limited company?

Private contract correct incorrect

Royal charter correct incorrect

Statute correct incorrect

Registration correct incorrect

* not completed

. The document that establishes the constitution of the company and how it may run its affairs is?

The directors' contract of employment correct incorrect

The certificate of incorporation correct incorrect

The memorandum correct incorrect

The articles of association correct incorrect

* not completed

. In relation to the 'veil of incorporation' that is a feature of a limited company's separate legal personality, in which of the following circumstances will a court NOT lift the veil to identify the true nature of the relationship.
i) Where the company has been established to commit a fraud.
ii) Where the company has been established to circumvent contractual agreements.
iii) In the interests of justice.
iv) Where two separate legal entities are run as one economic undertaking.

All of the above correct incorrect

ii and iv correct incorrect

iii and iv correct incorrect

ii, iii and iv correct incorrect

* not completed

. Which of the following is NOT a feature of a limited company?

The company's separate legal personality correct incorrect

The perpetual succession of the company correct incorrect

The limited liability of the members correct incorrect

The directors' immunity from any criminal sanctions correct incorrect

* not completed

. Which of the following trading structures in NOT an example of a business organization?

An employee correct incorrect

A limited liability company correct incorrect

A limited liability partnership correct incorrect

A sole trader correct incorrect