Business Law | Assignment | MCQs

Running head- BUSINESS LAW
Business Law
Name of the Student
Name of the University
Author Note

Business Law1
MCQ
1. Which of the following can lead to the formation of a partnership (identify all that apply)?
A) An express contract
B) Shared rental profits from a jointly owned property
C) An implied contract
D) Carrying on business activities with an intent to profit
E) Employee bonuses or commissions
2. Which of the following individuals would owe fiduciary duties in a workplace context
(highlight all that apply)
A) A director of a corporation
B) An agent
C) A retired employee
D) A sole proprietor
E) A professional such as an accountant
3. Which one of the following is not true of sole proprietorships
A) They have to pay a fee to register a business name if it is not the name of the owner
B) They cannot hire employees
C) For tax purposes an owner can claim business losses against their income
D) The owner is fully financially responsible for the liabilities of the business
E) There is considerably less regulation
4. An employer has an obligation to provide which of the following to employees (select all
that apply)
A) Tools required to complete one’s tasks
B) Every component of the company uniform
C) Health care benefits for all workers
D) Training and instruction on how to perform the job safely
E) Overtime and holiday pay
5. Which one of the following is not true of Canadian corporations

Business Law2
A) They can be either public or private corporations
B) By-laws set out the ordinary operating structures of companies, such as the responsibilities
of directors and officers
C) They have rights and obligations independent of their directors, officers and shareholders
D) They are typically created through articles of incorporation
E) All corporations can carry on business in any province
6. Which of the following are reasonable expectations of an employee, absent contractual
terms or company policy to the contrary
A) Perform the work agreed to
B) Obscure all tattoos and other body art if required by company policy
C) Display a reasonable level of competency at their job
D) To insist upon negotiating their working hours on a day to day basis
E) To carry out outside hours on-going job training without compensation
7. Which one of the following is not true of directors of a corporation
A) They owe a fiduciary obligation to the corporation
B) They can also be a shareholder in the corporation
C) They are entitled to payment for their services to the corporation in their role as director
D) They must meet the duty and standard of care expected of a reasonable professional
E) They are elected by the shareholders
True or False (4% each)
8. All contracts of employment must be in writing T / F
9. A profitable corporation must pay dividends annually T / F
10. Partners do not receive salaries T / F