These are ACCA F4 English (CL/LW) Corporate and Business Law MCQs for Part-D of the Syllabus “The formation and constitution of business organisations”.

These multiple-choice questions (MCQs) are designed to help ACCA F4 English students to better understand the exam format. We aim to instill in students the habit of practicing online for their CBE exams. By doing so, students can reduce exam stress and prepare more effectively.

Please note:

Students should not attempt these MCQs until they have studied the entire chapter.
All questions are compulsory, so please do not skip any.

We hope that these MCQs will be a valuable resource for students preparing for the ACCA F4 English (CL/LW) exam.

INFORMATION ABOUT THESE CBE MCQs Test/Quiz

Course:	ACCA – Association of Chartered Certified Accountants
Fundamental Level:	Dpplied Skills
Subject:	Corporate and Business Law
Paper:	F4 English – CL/LW
Chapter:	Partnerships
Chapter Number:	13 of the Practice and Exam Kit
Syllabus Area:	D – “The formation and constitution of business organisations”
Questions Type:	CBE MCQs
Exam Section:	Section A

Syllabus Area

These Multiple Choice Questions (MCQs) cover the Syllabus Area Part D of the Syllabus; “The formation and constitution of business organisations” of ACCA F4 English (CL/LW) Corporate and Business Law Module.

Time

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Result

Students will get their F4 English CBE MCQs Test results after they finish the entire test. They will also be able to see the correct and incorrect answers, as well as explanations for the incorrect questions.

Types of Questions

MCQs: Choose one from the given options.
Multiple choice: Choose all those answers which seem correct/ or incorrect to you, as per the requirement of the question. Keep your eye on the wording “( select all those which are correct/ or incorrect)“.
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Type numbers: Type your answer in numbers as per the requirement of the question.

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F4 (ENG) - Chapter 13 - Part D - MCQs

Course: ACCA - Association of Chartered Certified Accountants
Subject: F4 (LW/CL) (ENGLISH) - Corporate And Business Law
Syllabus Area: D - The formation and constitution of business organisations
Chapter in Kit: 13 - Partnerships
Exam Section: Section A
Questions type: MCQs
Time: No Time Limit

INSTRUCTIONS

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1 / 15

Which of the following statements regarding partnerships is correct?

The business must be profitable

A partner can be an individual living person or a registered company

A partnership must exist for more than a single business transaction

2 / 15

In which form of partnership is there a partner that invests in the partnership but does not take part in the day-to-day running of the business?

Limited partnership

Limited Liability Partnership

Unlimited liability partnership

3 / 15

As a minimum, which of the following formalities is necessary to form an unlimited liability partnership?

A decision by the partners to set up business together

A written partnership agreement

Registration of the partnership at Companies House

4 / 15

A partner's actual authority to bind the partnership in a contract is determined by which of the following?

The actual purpose of the partnership

What is agreed between the partners

The perception third parties have of the purpose of the partnership

5 / 15

Which of the following statements concerning retiring partners is correct?

Retiring partners are not liable for any partnership debts after they leave

Retiring partners are liable only for existing partnership debts when they leave, unless third parties are notified that they have retired

Retiring partners are responsible for existing partnerships debts when they leave and partnership debts incurred after their retirement, unless third parties are notified of their retirement

6 / 15

Under the Partnership Act 1890, which of the following events will cause a partnership to be terminated?

Loss of 50% of the partnership's capital

The partnership incurring losses for three consecutive years

Bankruptcy of a partner

7 / 15

When a partnership is terminated, which of the following is paid off first from the funds raised from the sale of assets?

Partners' capital contributions

Loans from partners

External debts

8 / 15

Which of the following statements regarding Limited Liability Partnerships is correct?

A written partnership agreement is required to form the partnership

The partnership must have two designated members who are responsible for the publicity requirements of the partnership

The partnership is exempt from audit

The partnership dissolves when a partner leaves

9 / 15

Which of the following is true regarding Limited Liability Partnerships?

Where the partnership cannot pay its own debts, the partners are jointly liable up to an amount they have guaranteed

One partner may not take part in the day-to-day running of the partnership

The partnership is liable for its own debts

The partnership does not need to file accounts with the Registrar of Companies

10 / 15

When forming an unlimited liability partnership, a partnership agreement may be written.

Which TWO statements regarding written partnership agreements are correct?

Written partnership agreements are required by law where there are more than 20 partners in the partnership

Written partnership agreements are not required on formation and may be created at any point in the life of the partnership

Written partnership agreements must be in the form of a deed

Terms in the agreement override terms implied by the Partnership Act 1890

11 / 15

Which of the following is true concerning partnerships and legal charges?

Partnerships can grant both fixed and floating charges

Partnerships cannot grant fixed or floating charges

Partnerships can grant floating charges only

Partnerships can grant fixed charges only

12 / 15

Which of the following debts will a new partner in a partnership be liable for?

13 / 15

Which of the following is necessary to terminate a Limited Liability Partnership?

An order from the Registrar of Companies

Formal liquidation

A court order

A deed signed by the partners

14 / 15

When an unlimited liability partnership is terminated, which of the following is paid off last out of funds realised from the partnership assets?

Partners' share of partnership profits

Partners' capital contribution

External debts

Partnership loans

15 / 15

Under the Partnership Act 1890, which TWO of the following events will terminate an unlimited liability partnership?

The end of an agreed fixed period of time for the partnership

Notice by a partner

Disagreement between the partners

Absence of a partner

Your score is

F4 (CL – ENG) – Chapter 13 – PART D – CBE MCQs – ACCA