CHAPTER 3 Flashcards
(6 cards)
1
Q
Sole proprietorship
A
funded, owned, managed by one owner owner is 100% in control of profit registration - rm60 + rm10 (documentation) flexibility no ssm pay self-employment taxes
2
Q
Partnership
A
less than 20 people
professional businesses less than 50 people
3
Q
Limited liability partnership
A
No limited owners
registration fee is rm500
separate legal identity
4
Q
Private limited company
A
Under companies Act 1965
Legal entity separate from members/founder
Sdn Bhd
Limited liability
5
Q
Cooperative
A
divided into primary and farmers
primary has at least 100 people
farmers’ has at least 50 people
6
Q
Registration
A
Via companies/cooperative commission of Malaysia
