A Limited Company (Leaving Cert Business): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
To what extent are owners liable for debts in a limited company?
To what extent are owners liable for debts in a limited company?
Only to extent of capital invested
Which Act governs private limited companies in Ireland?
Which Act governs private limited companies in Ireland?
Companies Act 2014
Which office must a limited company register with to obtain a certificate of incorporation?
Which office must a limited company register with to obtain a certificate of incorporation?
Companies Registration Office (CRO)
What does limited liability mean for shareholders?
What does limited liability mean for shareholders?
Not personally liable beyond investment
What principle determines shareholder control in a limited company?
What principle determines shareholder control in a limited company?
One share, one vote
What is the maximum number of shareholders allowed in a private limited company?
What is the maximum number of shareholders allowed in a private limited company?
149
Which advantage allows a limited company to survive ownership changes or shareholder deaths?
Which advantage allows a limited company to survive ownership changes or shareholder deaths?
Continuity of existence
What is a disadvantage of a limited company compared to sole traders and partnerships?
What is a disadvantage of a limited company compared to sole traders and partnerships?
More expensive to set up
What is the minimum number of directors required for a Designated Activity Company (DAC)?
What is the minimum number of directors required for a Designated Activity Company (DAC)?
Two directors
What is a key characteristic of a Designated Activity Company (DAC)?
What is a key characteristic of a Designated Activity Company (DAC)?
Established for specific purpose only