MNB1501 ASSIGNMENT NO.2 YEAR 2022 SEMESTER 1 SOLUTIONS (QUIZ QUESTIONS AND ANSWERS)

MNB1501 ASSIGNMENT NO.2 YEAR 2022
(SEMESTER) SOLUTIONS – N.B CORRECT
ANSWERS ARE MARKED IN RED

1. How many of the following statements would be correct for Southern Sun
Hotel Corporation (Pty) Ltd?

a) It requires at least one director.

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 (Correct)

d. Three

2. The assets the owner pledges to a bank as security for repayment of a loan is
known as


Select one:
a. character
b. conditions
c. capital

, d. collateral


3. Which one of the following statements is true for a partnership?
Select one:


a. The continued existence of the partnership is not dependent on the legal
capacity of the partners. .
b. The partners are jointly liable for all claims made against the partnership.
c. The partnership has a separate estate from its partners and their personal
assets.

d. The partnership is regarded as a separate taxpayer.




4. The assets the owner pledges to a bank as security for repayment of a loan is
known as


__________.


Select one:
a. conditions
b. capital
c. collateral
d. character


5. Which one of the following is an example of an internal stakeholder within a
company such as Kiph?


Select one:
a. Customers

b. Employees