1. A sole proprietorship is a type of business of "one man show". This means a sole proprietor will manage his business on his own, bears his own losses and enjoys his profit by himself. He is the sole owner of the business, and he cannot employ another worker to work with him. (TRUE/FALSE)

2. If a sole proprietor becomes unsound or is declared bankrupt, his business will automatically be dissolved. (TRUE/FALSE)

3. Sally is a lawyer. She wishes to open her own legal firm in Singapore. She has a big capital that she wants to invest for in a large office. However, because she formed a partnership business, she can only engage with twenty partners in her firm. (TRUE/FALSE)

4. Max is a very generous man. He always likes to help the needy people and those in hardship. He awares of the current situation happening in Palestine that people are struggling with war conflict. He invited his friend Adli, who is also known as a helpful man to be his partner in their mission to help Palestine. They established a partnership to collect fund from the public in order to help the Palestinians to provide food and medical supplies. This action is rightful. (TRUE/FALSE)

5. Section 30-32 of Partnership Act 1961 outlines the duties of partners in a partnership organization. Each partner owes fiduciaries duties to one another. The fiduciary duty is an obligation of loyalty, honesty and good faith to someone. A partner must disclose everything to another partner with regards to business matters, however a partner is allowed to make extra income with his own effort without getting consent from his other partner. (TRUE/FALSE)

6. Ben and Lily are partners in a business of selling home accessories. They have a shop at Wisma Atria in Singapore. Due to pandemic Covid-19, their business is running at a loss, that they have to top up their own money to maintain the operating cost. Ben is no longer interested to run the business and intends to terminate the partnership, however, Lily refused. Ben, if insisted, can apply to the court to dissolve the partnership. (TRUE/FALSE)

7. Amanda and Callie are siblings. They decided to buy a Honda City car as a gift for their mother. However, they need RM15,000 as deposit. They plan to pool their money to open an online business selling cupcakes. Callie told Amanda that once they achieve RM15,000 profit, he would not want to continue the business. Later on, Amanda refused to close the business because he thinks it is profitable. The partnership is terminated once their objective is achieved. (TRUE/FALSE)