The disappearance of a person for a minimum of five months with a court order can be a cause of dissolution of the Unlimited partnership. *

False

True

Shareholders in the Joint Stock Company can be minors. *

True

False

Only the incorporeal elements of a business concern can be sold. Corporeal elements have to remain in the hands of the seller. *

False

True

Consent, object, cause and capacity are among the formal and procedural conditions that govern the formation of a company. *

True

False

The partners in the Limited Liability Company can be juristic persons. *

False

True

The minimum capital for Unlimited Partnership is 30,000,000L.L. *

False

True

When the duration of the partnership is definite, the partner can withdraw from the partnership at least three months prior to the end of the financial year. *

True

False

The contribution (cash, kind, and service) is applied to all companies. *

True

False

The market value of the share of the Joint Stock Company may increase or decrease. *

False

True

Shares are not transferrable. *

True

False

Persons who are not legally allowed to carry on business activities cannot be sleeping partners in the Limited Partnership. *

True

False

The board of directors in the Limited Liability Company must set aside 10% of the net profit to create statutory reserve fund. *

True

False

The owners of Limited Liability Company and Joint Stock Company are called partners. *