Company Formation and Liquidation Quiz
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Questions and Answers

What is the benefit of creating a company as a legal person?

  • The company can avoid legal obligations
  • The company can have tax exemptions
  • The company can have limited liability (correct)
  • The company can have unlimited liability

    • What happens when a company closes?

  • It can continue to operate as a dormant company
  • It can transfer its assets to another company
  • It may need to be liquidated to avoid further legal obligations (correct)
  • It is required to merge with another company

    • What are corporate groups?

  • Companies that have been liquidated
  • Individual companies that have merged together
  • Companies that have closed down
  • Companies that have collectively registered themselves as new companies (correct)

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