1-

Sam and Lisa own 60% and 40% shares of a partnership company. They have borrowed 100,000 AED from the bank. If they fail to repay the debt in time,

B. Lisa is liable for 40,000 AED

Both A and B

A. Sam is liable for 60,000 AED

D. Lisa is liable for 100,000 AED

C. Sam is liable for 100,000 AED

Both C and D

2-

Continuity is least stable in which of the following types of companies?

Publicly held company

Sole Proprietership

Privately held company

Partnership

3-

If a company is making a loss, in which type of company do owners benefit in terms of taxation?

Partnerships

Partnerships & Sole Proprietorships

Sole Proprietorships

Corportations

4-

Majority of the company can be controlled by a minority of shareholders in which type of company?

Partnership

Closely held company

Publicly held company

Sole Proprietership

5-

In many countries,

Sole Proprietorships have a double tax with corporate tax on profits and income tax on dividends or capital gains

Corporations have a double tax with corporate tax on profits and income tax on dividends or capital gains

Partnerships have a double tax with both partners liable for the tax