ACCA 2026 LW Corporate Law Business Law Free Quiz 1

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ACCA 2026 LW Corporate Law Business Law Free Quiz 1

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ACCA 2026 LW Corporate Law Business Law Free Quiz 1

Practice ACCA 2026 LW Corporate Law MCQs from Business Law. Get instant results with Explanation.

General10 MCQs

1. What is a sole trader?

A. A sole trader has limited liabilityB. A sole trader has unlimited liability and is not a separate legal entityC. A sole trader is a separate legal entityD. A sole trader is the same as a partnership

2. What is a partnership and the liability of partners?

A. Partnerships are separate legal entitiesB. Partners have limited liabilityC. Partners have unlimited liability and are jointly and severally liable for partnership debtsD. Partnerships are not based on a contract

3. What is a limited liability partnership (LLP)?

A. An LLP has separate legal personality and limited liability for membersB. An LLP is the same as a general partnershipC. LLP members have unlimited liabilityD. LLPs are not regulated by statute

4. What is agency?

A. An agent is always personally liable for contractsB. The principal is not liable for the agent's actsC. Agency relationships only arise in employmentD. Agency is a relationship where an agent acts for a principal with authority, binding the principal

5. What is apparent (ostensible) authority?

A. Apparent authority is the same as actual authorityB. Apparent authority arises when the principal holds out the agent as having authority, relying on itC. Apparent authority is not binding on the principalD. Apparent authority requires a written agreement

General10 MCQs

6. What are the fiduciary duties of an agent?

A. An agent has no duties to the principalB. An agent can make secret profits without disclosureC. An agent owes fiduciary duties to the principal, including avoiding conflicts and secret profitsD. An agent's duties are solely contractual

7. What are the implied terms under the Sale of Goods Act 1979?

A. The Sale of Goods Act 1979 implies terms that goods correspond to description and are of satisfactory qualityB. The Sale of Goods Act does not imply any termsC. The Sale of Goods Act only applies to business-to-business salesD. The Sale of Goods Act is not relevant to consumer contracts

8. What is the difference between UCTA and the Consumer Rights Act?

A. UCTA applies only to consumer contractsB. The Consumer Rights Act applies only to business-to-business contractsC. UCTA and the Consumer Rights Act are the sameD. UCTA applies to business contracts; the Consumer Rights Act applies to consumer contracts, both restricting unfair terms

9. What is franchising?

A. A franchisee is an employee of the franchisorB. Franchising is a business arrangement where the franchisee uses the franchisor's brand and model in exchange for feesC. Franchising is the same as a partnershipD. Franchising is not regulated by contract

10. What is a bill of exchange?

A. A bill of exchange is a contract for the sale of goodsB. A bill of exchange is not negotiableC. A bill of exchange is an order to pay money, governed by the Bills of Exchange ActD. A bill of exchange is the same as a cheque

📋 ACCA - Test Online Practice Quizzes

ACCA

Conducting Body: Association of Chartered Certified Accountants

Frequency: Exam Frequency Year Round | Time: 360 Minutes

Negative Marking: No

⚡ Test Pattern (Total: 116 MCQs):

Business and Technology: 46 MCQs
Management Accounting: 35 MCQs
Financial Accounting: 35 MCQs
Corporate and Business Law: 45 MCQs

Merit Formula: -

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