Which of the following statements about incorporated associations is NOT correct?Group of answer choicesEach State and Territory prescribes certain steps to be taken in order to incorporate an existing unincorporated association or a new association. Such steps are identical in each jurisdictionFor an incorporated association to be created, an application has to be lodged with the relevant authority in those States or Territories in which the association is going to runBoth companies and incorporated associations are separate legal entitiesA management committee generally manages an incorporated association

Which of the following statements is NOT correct?Group of answer choicesIncorporated associations can sue and be sued under their own nameIncorporated associations have a restriction on the ability to carry on a business or a tradeIncorporated associations can enter into contractsThe committee members in an incorporated association are generally liable for the debt of the associations

The application to incorporate an incorporated association has to be lodged with:Group of answer choicesthe Australian Securities and Investments Commission (ASIC)the Treasurerthe relevant registering authority in the relevant State or Territory in which the organisation is going to operatethe Prime Minister

Multiple Choice QuestionA state-chartered legal entity with authority to act and have liability separate from its owners is a ______.Multiple choice question.general partnershipstakeholdercorporationsole proprietorship

Which of the following documents is not required for the incorporation of a company?a) Memorandum of Associationb) Articles of Associationc) Partnership deedd) Prospectus

Select all that applyWhat are the legal requirements owners should fulfill before forming a corporation? (Check all that apply.)Multiple select question.Owners should register the name and articles of incorporation.Owners should meet the state statutory needs.Owners should form a limited liability company (LLC).Owners should sign a partnership agreement.