$1.$ The effect of incorporation is

$$ A$.$

the company can now enter into contracts in its own name.

$$ B$.$

the company can be asked to contribute towards expenses of the shareholders.

$$ C$.$

the company is not liable for its own debts.

$$ D$.$

the shareholders of the company can pay the company's debts.

$2.$ Separate legal personality means that

$$ A$.$

the company can enter into contracts in its own name.

$$ B$.$

the company can own property.

$$ C$.$

he shareholders do not usually pay the company's debts.

$$ D$.$

all of the above.

$3.$ A cumulative preference share

$$ A$.$

can claim dividends for every year the company did not declare a dividend, but only once a dividend is declared.

$$ B$.$

can demand payment of a dividend at any time, even if there is no dividend declared.

$$ C$.$

can insist that the directors of a company declare a dividend when they have not made a profit.

$$ D$.$

can stand in the queue for dividends twice.

$4.$ A deferred shareholder

$$ A$.$

never gets any dividends.

$$ B$.$

has no say in the running of the company.

$$ C$.$

is unlikely to get dividends.

$$ D$.$

votes last at shareholder meetings.

$5.$ A partnership contract

$$ A$.$

must be registered with the CIPC.

$$ B$.$

must be signed by all the parties.

$$ C$.$

must always be in writing.

$$ D$.$

does not need to be in writing.

$6.$ The liquidity test applies

$$ A$.$

In situations where a company is struggling to meet its expenses.

$$ B$.$

where the company is unable to pay its debts.

$$ C$.$

where the directors want to enter into certain transactions.

$$ D$.$

None of the above.