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Key Facts: Myanmar DA Part I Module II Exam
2 Papers
Total written subject examination papers in DA Part I Module II
Myanmar Accountancy Council DA syllabus
40 points
Minimum qualifying mark required per subject paper
Myanmar Accountancy Council examination rules
5 sittings
Maximum consecutive examinations allowed to pass both modules
Myanmar Accountancy Council examination regulations
The MAC DA Part I Module II Examination comprises 2 written subject papers. Candidates must achieve at least 40 points in each subject; failing any subject requires re-sitting both papers in that module.
Sample Myanmar DA Part I Module II Practice Questions
Try these sample questions to review concepts for the Myanmar DA Part I Module II exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.
1Which of the following represents the primary legal disadvantage of operating as a sole proprietorship?
A.The business is subject to double taxation on its enterprise profits and owner withdrawals
B.The owner faces unlimited personal liability for all debts and obligations incurred by the business
C.The owner is legally prohibited from employing salaried staff or managers
D.The business must obtain approval from the company registrar before changing operational activities
Explanation: In a sole proprietorship, the owner and the business enterprise are legally identical; consequently, the sole trader has unlimited liability, meaning personal assets can be seized to satisfy business debts. Sole proprietorships do not experience corporate double taxation, are freely permitted to employ personnel, and do not register articles of association with the company registrar. (This question is part of an independent English-language MCQ study adaptation for the Myanmar Accountancy Council Diploma in Accountancy Part I Module II Examination.)
2Under general commercial practice and partnership law, what is the defining legal test of a partnership?
A.The mutual agency relationship where each partner acts as both principal and agent for the others
B.The equal contribution of monetary capital into a joint bank account by all participants
C.The mandatory registration of a formal written deed with the high court registry
D.The equal sharing of gross revenue receipts before deducting operational expenses
Explanation: Mutual agency is the cardinal test of a partnership: each partner is both an agent capable of binding the firm and a principal bound by the acts of the other partners acting in the ordinary course of business. Sharing of gross returns or capital contributions alone does not establish a partnership, and registration is not strictly mandatory for initial legal existence. (This question is part of an independent English-language MCQ study adaptation for the Myanmar Accountancy Council Diploma in Accountancy Part I Module II Examination.)
3What fundamental legal principle was established in the landmark case of Salomon v Salomon & Co Ltd?
A.Directors are strictly prohibited from holding secured debentures issued by their own company
B.A duly incorporated company possesses a separate legal personality distinct from its shareholders and controllers
C.Shareholders are personally liable for corporate obligations if one individual holds the overwhelming majority of shares
D.An unquoted private company cannot enter into binding contracts with its own founding shareholders
Explanation: Salomon v Salomon & Co Ltd firmly established the doctrine of separate legal personality: once incorporated, a company is an independent legal entity separate from its shareholders and directors. Consequently, debts incurred by the company are corporate obligations, not personal liabilities of the majority owner. (This question is part of an independent English-language MCQ study adaptation for the Myanmar Accountancy Council Diploma in Accountancy Part I Module II Examination.)
4How does a public company differ essentially from a private company in commercial practice?
A.A public company may invite the general public to subscribe for its shares or debentures, whereas a private company cannot
B.A public company is exempt from filing audited financial statements, while a private company must publish them publicly
C.A public company cannot have more than twenty shareholders under any circumstances
D.A public company must be entirely owned by state-run economic enterprises
Explanation: A public company is authorized under corporate legislation to issue prospectuses and invite the public to subscribe for shares and debentures, while private companies are strictly prohibited from public share offerings. Public companies are subject to stricter statutory disclosure requirements and have no upper limit on member numbers. (This question is part of an independent English-language MCQ study adaptation for the Myanmar Accountancy Council Diploma in Accountancy Part I Module II Examination.)
5In a company limited by shares, what is the precise meaning of 'limited liability' for the shareholders?
A.Shareholders are liable for corporate debts up to the maximum market value of their personal real estate
B.Shareholder liability to contribute towards company debts is limited to any unpaid amount on the shares they hold
C.Shareholders are only liable for debts contracted during the first twelve months following initial incorporation
D.Shareholders are fully relieved from paying even the nominal subscription price of their allotted shares
Explanation: Limited liability means that if a company limited by shares becomes insolvent, each shareholder can only be called upon to contribute any amount remaining unpaid on the nominal value of their shares. Once shares are fully paid up, the shareholder has zero personal liability for the company's debts. (This question is part of an independent English-language MCQ study adaptation for the Myanmar Accountancy Council Diploma in Accountancy Part I Module II Examination.)
6Which principle is a fundamental operational characteristic of a cooperative society?
A.Voting rights are allocated proportionally according to the number of capital shares owned
B.Democratic member control governed by the rule of one member, one vote regardless of capital invested
C.Distribution of total earnings exclusively to outside venture capital investors
D.Strict prohibition against transacting business with or offering services to members
Explanation: Cooperative societies operate on the cooperative principle of democratic member control, where each member exercises one vote regardless of the number of shares held. Surplus is typically distributed as a patronage dividend based on the volume of transactions members conduct with the cooperative. (This question is part of an independent English-language MCQ study adaptation for the Myanmar Accountancy Council Diploma in Accountancy Part I Module II Examination.)
7In the Myanmar economic framework, what defines a State-Owned Economic Enterprise (SEE)?
A.An entity where private equity funds own at least 75 percent of voting equity
B.An enterprise established, financed, and managed directly under the ownership and control of the government
C.A non-profit charitable trust financed entirely by foreign non-governmental donations
D.A commercial partnership registered exclusively between licensed practicing certified public accountants
Explanation: State-Owned Economic Enterprises (SEEs) in Myanmar are commercial or industrial entities established and funded by the state, operating under designated Union ministries to administer strategic sectors, generate state revenue, and provide public goods. They are governed by specific statutory frameworks such as the State-Owned Economic Enterprises Law. (This question is part of an independent English-language MCQ study adaptation for the Myanmar Accountancy Council Diploma in Accountancy Part I Module II Examination.)
8In commercial joint venture arrangements, what distinguishes an incorporated equity joint venture from a purely contractual joint venture?
A.An equity joint venture creates a new, separate corporate legal entity in which co-venturers hold equity shares
B.A contractual joint venture requires approval from the international stock exchange, whereas an equity venture does not
C.An equity joint venture cannot acquire physical assets or open its own independent commercial bank accounts
D.A contractual joint venture confers unlimited perpetual corporate succession upon the joint project
Explanation: An equity joint venture involves the incorporation of a separate, distinct legal entity with shared capital contributions and equity ownership among the co-venturers. In contrast, a contractual joint venture relies solely on an operating contract governing collaborative obligations without forming an independent corporate entity. (This question is part of an independent English-language MCQ study adaptation for the Myanmar Accountancy Council Diploma in Accountancy Part I Module II Examination.)
9Under modern commercial company law (such as the Myanmar Companies Law 2017), what is the statutory membership range for a private company limited by shares?
A.A minimum of two members and a maximum of twenty members
B.A minimum of one member and a maximum of fifty members (excluding current and former employee-members)
C.A minimum of seven members with no statutory upper limit
D.A minimum of three members and an absolute maximum of twelve members
Explanation: Modern corporate legislation, including the Myanmar Companies Law 2017, permits a single shareholder (minimum of one) to incorporate a private company limited by shares, with an upper statutory limit of fifty members, excluding current and former employee-members. Public companies require a minimum of one member with no statutory upper limit. (This question is part of an independent English-language MCQ study adaptation for the Myanmar Accountancy Council Diploma in Accountancy Part I Module II Examination.)
10An office manager approves every routine purchase, letter, and staff request personally, creating long delays. Which organizational change best preserves accountability while improving workflow?
A.Add another approval layer above the office manager for every routine transaction
B.Remove all approval limits so each employee may commit the organization without review
C.Delegate routine decisions within written authority limits while retaining review of exceptions
D.Centralize document preparation as well as approval in the manager's own office
Explanation: Controlled delegation assigns routine decisions to appropriate staff under clear authority limits, reporting duties, and exception review. It reduces bottlenecks without abandoning managerial accountability. (This question is part of an independent English-language MCQ study adaptation for the Myanmar Accountancy Council Diploma in Accountancy Part I Module II Examination.)
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