I want to establish a company.  I know that I need to provide ASIC with a possible name.  The names which I like are not currently registered with ASIC.  Which of the following names could I use? Choose ONE option ONLY.Question 10Select one:a.Sandringham Bank Ltdb.A name which implies that I have a connection of some sort with the British Royal Familyc.The Royal Doggy Grooming Service Pty Ltdd.Jock & Angus' Doggy Grooming Pty Ltd

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

If I want to register the name of my new business, what should I do first?Question 3Answera.Choose the name "Royal Bakers to Her Majesty The Queen" because I can pretend that I have a connection to the British Royal Family.b.Check with ASIC if my proposed name has already been registered to someone else.c.Apply to use a name that has already been registered to someone else because I want to operate a different type of business from that other business.d.Choose to use the name "The Bank of Caulfield".Clear my choice

Please choose the INCORRECT answer.  A proprietary limited company:Question 2Answera.Can be either a Small or Large proprietary company.b.Does not need to be registered with ASIC.c.Must comply with the requirements of the ATO (Australian Taxation Office) under Australian law.d.Can operate a cafe or a clothing store.

Identify which of the following business structures allow the owner to operate the business in their own name without the need to register a separate business name.*1 pointSole traderAll answers are correctPrivate companyPublic company

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.