True or False? “A bank is required to identify and verify the beneficial owners of a public company listed on the Australian Stock Exchange.”

Which ONE of the following statements is CORRECT?Question 9Answera.A mortgage is not a form of security for a debt.b.Public companies are automatically listed on the ASX (Australian Securities Exchange) when they are registered with ASIC.c.The case of Lee v Lee's Air Farming upheld the ruling in the case of Salomon v Salomon & Co that companies are separate legal entities.d.Large proprietary limited companies can list on the ASX (Australian Securities Exchange) in some rare circumstances.

Which of the following statements are FALSE? Select all that apply.  A nominee shareholder may not be a company   The ‘chain of corporate entities’ may be located in different jurisdictions or countries   In Australia, a bearer share certificate can be used to transfer legal and beneficial ownership of an Australian company   A shareholder of a company may hold shares beneficially or as nominee in Australia

Since banks are paid first out of company revenues, they are also considered owners of the companyGroup of answer choicesFalseTrue

The primary assertion being addressed by sending bank confirmation isSelect one:a.classificationb.completenessc.existenced.rights and obligation

Identify if the following statement is true or false -  It is easier to monitor the financial performance and position of the business if it has a separate account to that of its owner.*1 pointTRUEFALSE