This document consists of ten assessments that have correct answers. Feedback is provided for each question. When used correctly, it can ensure that you receive a distinction.
MNB1501 – ASS2 – Q&A - S1 – 2023
Marks 19.00/20.00
Grade 95.00 out of 100.00
Question 1
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Question text
Sophie decides to register her business as a legal business entity. Her friend, Alice,
is going to be her business partner and will contribute 50% of the capital that they
will require to get the business started. However, neither Sophie nor Alice wants to
take personal liability for the business, nor do they want to appoint a director. For
which type of legal entity would you suggest she register?
Select one:
a.
Company
b.
Sole proprietorship
c.
Business trust
d.
Partnership
Feedback
The correct answer is: Business trust
Question 2
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Question text
How many of the following statements would be correct for Southern Sun Hotel
Corporation (Pty)Ltd?
a It requires at least one director.
1
,b Shares can be listed on the stock exchange.
c It is not as strictly controlled as a Mr Price Holdings Limited.
d Past and present directors are jointly and severally liable for debts contracted
during their terms of appointment.
Select one:
a.
Four
b.
One
c.
Two
d.
Three
Feedback
The correct answer is: Two
Question 3
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MXit’s name and location will be included in the ____________ of the business plan.
Select one:
a.
executive summary
b.
management plan
c.
general company description
d.
operating plan
2
,Feedback
The correct answer is: general company description
Question 4
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In 2007 Bain Capital bought the Edcon group and de-listed it. The company then
traded as Edcon (Pty) Limited and therefore traded as a ____________ company.
Select one:
a.
private
b.
public
c.
state-owned
d.
sole-proprietorship
Feedback
The correct answer is: private
Question 5
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Question text
Jo is the owner of Jo’s Cakes in Centurion. She wants to expand her business and
has approached Emerald Bank to apply for a loan. The bank requests that Jo pledge
some of her business assets to serve as security for repayment of the loan. To which
of the four Cs that are used to evaluate a loan application does this scenario refer?
Select one:
a.
3
, Capital
b.
Character
c.
Collateral
d.
Condition
Feedback
The correct answer is: Collateral
Question 6
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Question text
The entrepreneur George B. Boedecker, Jr developed the shoe brand Crocs Inc.
Crocs Inc. is an example of a___________________.
Select one:
a.
public company
b.
personal-liability company
c.
state-owned company
d.
private company
Feedback
The correct answer is: personal-liability company
Question 7
Correct
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4
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