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Which ONE of the following options is INCORRECT for companies?Question 11Answera.If I want to establish a No Liability Company, I cannot use it to operate a dog obedience club.b.When I apply to ASIC to register a company, my registration must include my proposed company name.c.If I want to register a Company Limited by Guarantee, I can use it to operate a small clothing store.d.If I want to register the business name "Jock & Angus' Doggy Bakery" I would need to register that name with ASIC.Clear my choice

Question

Which ONE of the following options is INCORRECT for companies?Question 11Answera.If I want to establish a No Liability Company, I cannot use it to operate a dog obedience club.b.When I apply to ASIC to register a company, my registration must include my proposed company name.c.If I want to register a Company Limited by Guarantee, I can use it to operate a small clothing store.d.If I want to register the business name "Jock & Angus' Doggy Bakery" I would need to register that name with ASIC.Clear my choice

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Solution

The incorrect option is c. A Company Limited by Guarantee is typically used for non-profit organisations, charities, clubs, or societies, not for operating a small clothing store.

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If I want to join my local dog obedience club so that my dog Angus can attend agility classes, that club is most likely to be?  Choose ONE option.Question 5Select one:a.A company that has the letters NL after its nameb.A company limited by sharesc.An unlimited companyd.A company limited by guaranteeClear my choice

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