For the purpose of this question imagine that Super-Mega Convenience Mart Pty Ltd is a company registered with ASIC which runs a chain of convenience stores and petrol stations.

Which of the following statements is correct:

Select one:

a.Super-Mega Convenience Mart Pty Ltd is a proprietary company limited by shares.

b.Super-Mega Convenience Mart Pty Ltd is a proprietary company limited by guarantee

c.Super-Mega Convenience Mart Pty Ltd is a public company limited by shares.

d.Super-Mega Convenience Mart Pty Ltd is a public company limited by guarantee.

Which of the following is correct in relation to the High Court of Australia:

Select one:

a.It can act as a check on the power of the parliament by hearing cases, and making decisions about, the constitutional validity of legislation.

b.It is completely independent from the other branches of Government

c.It is ultimate source of legal authority because the parliament is unable to act as a check on the power of judges

d.All of the above.

The case ofSalomon v Salomon & Co Ltd[1897] AC 22 is authority for the principle that:

Select one:

a.a person cannot be both a director and creditor of the same company

b.the debts of a company are the debts of its shareholders

c.directors are never liable for the debts of a company

d.a company is a legal entity separate from its shareholders