Anna Maria
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Quiz on Week 2 Corporate Law Revision, created by Anna Maria on 01/03/2021.

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Anna Maria
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Week 2 Corporate Law Revision

Question 1 of 7

1

Entity shielding refers to...

Select one of the following:

  • the rules that protect the personal assets of a firm’s owners from the firm’s creditors

  • the rules that protect a firm’s assets from the personal creditors of the owners

Explanation

Question 2 of 7

1

What are the core features of a company?

Select one or more of the following:

  • legal personality

  • shared ownership

  • non-transferable shares

  • entity shielding

  • owner shielding

  • delegated management

Explanation

Question 3 of 7

1

It is impossible to lift (pierce) the corporate veil.

Select one of the following:

  • True
  • False

Explanation

Question 4 of 7

1

Shares in a company may be exchanged for a higher price than their face value.

Select one of the following:

  • True
  • False

Explanation

Question 5 of 7

1

In Germany delegated management consists of...

Select one or more of the following:

  • the supervisory board

  • the delegated board

  • the executive board

Explanation

Question 6 of 7

1

Private companies are easy to value as there is a lot of information about them openly available.

Select one of the following:

  • True
  • False

Explanation

Question 7 of 7

1

According to Salmon v Salmon the corporate personality principle and limited liability have the same meaning.

Select one of the following:

  • True
  • False

Explanation

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