Formation – NBC Institute

BF – Nov 2015 – L1 – SA – Q3 – Business and Organizational Structures and Choices

Deciding what factors are not to be considered when choosing a business form.

Question

Which of the following is NOT a factor to be considered when deciding the form of a business enterprise?
A. The degree of personal liability
B. The willingness to share decision making powers and risks
C. The cost of establishing the business
D. The location of the business
E. The legal requirements concerning the provision of public information

Answer

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Tags: Business, Decision Factors, Formation
Level: Level 1

Topic: Business and Organizational Structures and Choices
Series: NOV 2015

BCL – Mar 2024 – L1 – Q4b – Alternative Forms and Constitutions of Business Organisations

Discuss the existence of a partnership in the provided scenario and the liabilities associated with partnership actions.

Question

Three persons, Booker, Weah, and Makafui agreed to set up a restaurant. The finance was provided almost entirely by one of them, Booker. Before the restaurant opened, furniture and equipment were purchased and a laundry contract was entered into. Advertisements were placed in the newspapers and on television, apart from the fact that premises were acquired by the person who supplied the money. The parties then fell out and the business did not proceed as planned.

Required:

i) Explain whether in the circumstances of the facts, there is a Partnership in terms of the provisions of the Incorporated Private Partnership Act, 1962 (Act 152). (5 marks)

ii) State TWO (2) liabilities of Partnership for action or transaction done in the course of a Partnership business.

(3 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Formation, Formation, Incorporated Private Partnership Act, Liabilities, Partnership Law
Level: Level 1

Topic: Types of capital and the financing of companies
Series: MAR 2024

BF – Nov 2015 – L1 – SA – Q3 – Business and Organizational Structures and Choices

Deciding what factors are not to be considered when choosing a business form.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business, Decision Factors, Formation
Level: Level 1

Topic: Business and Organizational Structures and Choices
Series: NOV 2015

BCL – Mar 2024 – L1 – Q4b – Alternative Forms and Constitutions of Business Organisations

Discuss the existence of a partnership in the provided scenario and the liabilities associated with partnership actions.

Question

Required:

i) Explain whether in the circumstances of the facts, there is a Partnership in terms of the provisions of the Incorporated Private Partnership Act, 1962 (Act 152). (5 marks)

ii) State TWO (2) liabilities of Partnership for action or transaction done in the course of a Partnership business.

(3 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Formation, Formation, Incorporated Private Partnership Act, Liabilities, Partnership Law
Level: Level 1

Topic: Types of capital and the financing of companies
Series: MAR 2024

Question Tag: Formation

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BF – Nov 2015 – L1 – SA – Q3 – Business and Organizational Structures and Choices

Deciding what factors are not to be considered when choosing a business form.

BCL – Mar 2024 – L1 – Q4b – Alternative Forms and Constitutions of Business Organisations

Discuss the existence of a partnership in the provided scenario and the liabilities associated with partnership actions.

BF – Nov 2015 – L1 – SA – Q3 – Business and Organizational Structures and Choices

Deciding what factors are not to be considered when choosing a business form.

BCL – Mar 2024 – L1 – Q4b – Alternative Forms and Constitutions of Business Organisations

Discuss the existence of a partnership in the provided scenario and the liabilities associated with partnership actions.

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Question Tag: Formation

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BF – Nov 2015 – L1 – SA – Q3 – Business and Organizational Structures and Choices

Deciding what factors are not to be considered when choosing a business form.

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BCL – Mar 2024 – L1 – Q4b – Alternative Forms and Constitutions of Business Organisations

Discuss the existence of a partnership in the provided scenario and the liabilities associated with partnership actions.

You're reporting an error for "BCL – Mar 2024 – L1 – Q4b – Alternative Forms and Constitutions of Business Organisations"

BF – Nov 2015 – L1 – SA – Q3 – Business and Organizational Structures and Choices

Deciding what factors are not to be considered when choosing a business form.

You're reporting an error for "BF – Nov 2015 – L1 – SA – Q3 – Business and Organizational Structures and Choices"

BCL – Mar 2024 – L1 – Q4b – Alternative Forms and Constitutions of Business Organisations

Discuss the existence of a partnership in the provided scenario and the liabilities associated with partnership actions.

You're reporting an error for "BCL – Mar 2024 – L1 – Q4b – Alternative Forms and Constitutions of Business Organisations"

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