2003 AL

1 iii Name the principles of the Rochdale cooperative movement foundation in 1844 at
Manchester in England.

2 ii What are the similarities and differences between sole proprietorship and partnership?
(3 marks)
iv Among the registered limited companies in Sri Lanka the majority are private limited
companies.What are the reasons for this situation? (3 marks)

3v A,B and C started a partnership with a capital of Rs. 50 000, Rs. 75 000 and RS 100 000
respectiv There is no written agreement between them.
1. If the net profit earned in a year totaled Rs. 90 000 how much would each partner
receive
2. What are the rights and duties of each partner? (3 marks)

4i What benefits can an economy obtain when the number of public limited companies
increase (3 marks)
ii Why does the Sri Lankan government
a)continue to have some businesses in the public sector?
b)Privatise certain government owned businesses?
Give three reasons for (a) and (b) separately. (3 marks)

5i Explain the powers of the Registrar of Companies in controlling the activities of public
limited companies. (3 marks)

2004 A/L

1 ii Explain , what benefits are enjoyed by shareholders of a Public Limited Company when
(3 marks)
compared with the partners of a partnership.
iii What differences can be seen in a Limited Cooperative Society when compared with a
(3 marks)
Public Limited Company?

2 iv What are the rights of a shareholder of a public Limited Company? (3 marks)

v What types of companies can be formed under the Companies Act of No 17 of 1982 (3
marks)

3 ii
" There are several Acts and Ordinances which govern partnerships in Sri Lanka." Name
three Of them and explain separately their effects on partnerships. (3 marks)
iii What are the inherent positive characteristics of a sole proprietorship when compared
with other types of business organizations? (3 marks)

4v Explain the following

a. Off — shore companies
b. Multinational Companies
c. Companies Limited by Guarantee (1 x 3 = 3 marks)
2005 A/L

2i Explain the concept of Mutual Agency' of partnership. (3 marks)

ii State six disadvantages of a partnership. (3 marks)
iii Name the documents required for registering a limited company according to the
Company Act No17 of 1982.(3 marks)
iv A business started as a private company has been decided to be converted into a Public
(3 marks)
Limited Company. What are the benefits of this change?
v There is a trend of expansion of franchises as a form of business organization. Give
reason (3 marks)
 3i State six advantages of public ownership. (3 marks)
ii "Cooperative Societies can be established and run effectively under any economic
system." Explain. (3 marks)

2006 A/L
1 iv Name three advantages and three disadvantages of a partnership compared with a sole
proprietorship.
vi Examine how Public Limited Companies influence on the expansion of businesses. (3
(3 marks)
marks)

3 iv
Compare and contrast Sole Proprietorship, partnership, private Limited Company, Public
Limited Company and Co-operative Society under the following headings. Ownership, (3 marks)
continuity, liability, legal entity. (Show your answer in a table)

4 iv Explian breifly the procedure to be followed by a public Limited Company for registering
(3 marks)
and obtaining the Trading Certificate.

2007 A/L
1v
Why does a government decide to have some industries under the public ownership?
vi Explain the disadvantages of a Public Limited Company compared to a Private Limited
Company

3 iv (a) List four main items of information in a partnership agreement. (03 x 04 = 12 marks)
(b) What happens to a partnership when one partner dies?
(c) How do shareholders control a company?

4i
Explain separately the advantages and disadvantaged of job (work) specialization.
ii
Explain the significance of SWOT analysis in the study of business environment.

iii (a) What is the document which describes external relations of a company?
(b)Name four major items that can be seen in this document.

iv (a) What is the National Cooperative council?

(b) State advantages and disadvantages of buying a franchise. (03 x04 = 12 marks)

2008 A/L

1e (i) Explain the meaning of the concept of legal entity of a limited company.
(ii) Explain two other legal characteristics of a Limited company. (3 marks)
f
Explain separately the benefits of a franchise business to franchiser and franchisee. (3 marks)

3d
Recently Miss Keshika has completed a Training Course on Hair-Dressing. She wants to
open her own salon. She does not feel that she knows enough about the business world
and she does not have enough money to invest. Her friend 'Danu' is an experienced
accountant and has money that is enough to invest in this business. Keshika is
considering to form a partnership with her friend, Danu.

What are the advantages and disadvantages that Keshika could get by forming a
partnership with Danu? (3 marks)
 4c (i) According to the Companies Act No. 7 of 2007, what are the documents to be
produced to the registrar of companies for registering a company?
(ii) When compared to a Private Limited Company, what are the advantages of a Public
Limited (listed) Company (PLC)? (3 marks)

d A group of investors are considering about implementing a particular business idea. They
are in an indecisive position with regard to the fact that whether they should establish a
partnership or a private limited company.
How do you explain them the advantages and disadvantages of those two forms of
organizations? (3 marks)

2009 A/L
1v Explain separately the similarities and differences between a sole proprietorship and a
partnership. (3 marks)

vi (a) What is meant by a listed company?

(b) Explain with examples how a listed public company and a non-listed public company
can be identified by their names. (3 marks)

3 iv Who has the controlling power of a public limited company? How can they exercise that
power and in what ways can they do so? (3 marks)

4 iii (a) Under the Company Act of No 07, 2007 even one share holder can start a company.
Comment on how far this agrees with the concept of company.
(b) Explain what is meant by 'minimum subscription'. (3 marks)

iv When there is no partnership agreement. how does the partnership ordinance affect on
the following?
(a) Sharing profit and losses
(b) Interest on capital
(c) Interest on drawings
(d) Interest on loans provided by partners
(e) Salaries for partners
(f) Admission of a new partner (3 marks)

2010 A/L

(3 marks)

(3 marks)

(3 marks)
 4 iv (a) According to the Company Act No. 07 of 2007, what information should be included in
the certificate of Incorporation?
(b) Expalin what is meant by 'initial shares' as stated in the Company Act. (3 marks)

2011 A/L

iii

iv

2012 A/L

2 iii Amal, Bimal and Chamal are carrying out a partnership. There is a conflict among them
regarding the following issues.
a Profit Sharing Ratio
b Interest for capital employed
c Bimal and Chamal are active partners and they request for salaries
d Amal is requesting an interest for the loan given by him
There are no clauses in the partnership agreement regarding the above issues. Explain
separately
how they should solve the above problems according to the partnership ordinance 1890.
(04 marks)

iv Name and explain the documents that should be submitted to the company registrar to
register a Private Ltd company along with the application according to the Company Act
No. 7 of 2007. (04 marks)
v (a) Explain what a franchise business is.
 (b) State separately three benefits each for a franchiser and franchisee from a franchise
business. (04 marks)

2013 A/L
2 iv
Arthur, Betty and Charles are qualified accountants and they started an accounting firm.
They had different specialities in the field of accounting. At the beginning they invested
equal amounts of capital. A secretary and a few clerks worked under their supervision.
This business progressed for a few years. Unfortunately a conflict arose and Betty
decided to quit. Finally they were f to dissolve their business. But now their problem was
how to share the assets and liabilities of the business.
a As mentioned in this case most partnerships are engaged in service providing businesses.
Explain why?
b
Explain what should have done the beginning of the partnership to present such a failure. (04 marks)

v (a) according to the Company Act no. 7 of 2007, what lights an investor get by purchasing
ordinary shares of a public limited company?
(b) documents which are need to register as a limited company, the articles of are the
(04 marks)
most important Explain how the articles of influence on company activities.

2014 A/L
2 ii (a)Describe why co-operative societies are not so popular at present.
(b) state four rights of partners of partnership business. (04 marks)

iii After serving abroad Kamal returned to Sri Lanka with savings of Rs. one million. Now he
expects to start his own business from those savings. But some of his friends advised him
to start a partnership business.
Explain most suitable decision that Kamal should take, by showing advantages and
(04 marks)
disadvantages of both options.

iv (b) What are the documents that should be submitted to the Registrar of Companies to
(02 marks)
incorporate a company?

v
(02 marks)
(a) State two similarities and differences of off-shore companies and overseas companies.

2015 A/L
2 iii (a) Explain, how a partnership differs from a franchise business.
(b) Currently, there is an increasing trend towards establishing franchise businesses in Sri
(04 marks)
Lanka. Describe four advantages available to a franchisee from a franchise business.

2016 A/L
2 ii b) Which is the legal requirement applicable if a person starts a business as 'Yasoda
(04 marks)
Catering using his daughter’s name?
iii a) A person supposes that starting a sole proprietorship is better than that of a
partnership. Give two reasons to agree with this idea.
b) State two disadvantages of a private limited company when compared with a public
(04 marks)
limited company.
iv Explain four suggestions that you would propose to make the co-operative business
(04 marks)
popular among the public.

2017 A/L
 2 iii

iv

2018 A/L
2 iv (a) Briefly explain four factors that affect arising of conflicts among partners.
(b) Government takes actions to provide products needed for public through various
(04 marks)
types of government organizations. Name four types of such government organizations.

v Franchiser and franchisee have a set of activities need to be done. Briefly describe four
(04 marks)
activities that should be done by a franchisee.

2019 A/L
3i Since the prices of inputs of bakery products have been increased, a bakery owner
decided to find additional capital by forming a partnership. Describe four advantages of
this decision. (04 marks)

v (a) State four characteristics of a government department.

(b) Explain two characteristics with which a state corporation can be identified from a
government department. (04 marks)