Company Forms and Administration
Sole traders, partnerships, limited companies, corporate personality, veil lifting, registration and articles.
How to study the CIMA Certificate
Secure each subject's concepts and calculations before using short business scenarios for application. Static study assets do not reproduce every computer-marked interaction or combine the four subjects into one official examination.
Core concepts
Concept 1
Compare business forms and liability.
Exam cue: Identify the legal person owing the obligation.
Concept 2
Explain separate corporate personality.
Exam cue: Separate ownership from company assets.
Concept 3
Describe articles, registration and public-private distinctions.
Exam cue: Check the constitutional or statutory authority.
Risk pitfalls and guardrails
Treating shareholders as owners of company property.
Guardrail: Do not combine subjects, treat the 0-150 scale as a percentage, or rely on a remembered label without checking timing, units, assumptions and facts.
Assuming limited liability prevents company debts.
Guardrail: Do not combine subjects, treat the 0-150 scale as a percentage, or rely on a remembered label without checking timing, units, assumptions and facts.
Confusing articles with a contract made by the company with customers.
Guardrail: Do not combine subjects, treat the 0-150 scale as a percentage, or rely on a remembered label without checking timing, units, assumptions and facts.
Memory anchors
Corporate personality
A registered company is a legal person separate from its members.
Limited liability
Members' loss is generally limited while the company remains liable for its own debts.
Articles
Articles govern the company's internal constitutional rules.
Checkpoint rule
Do the check-up only after you can summarize each concept in one sentence and identify one dangerous pitfall from memory.
Knowledge Check (after reading)
Short check-up to confirm understanding of this module.
Check-up Questions
What is a key legal feature of a sole trader?
What is a major risk of sole-trader status?
Answer all questions to submit.
Next step personalized recommendations
Continue learning
Move forward only after this module is stable.
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