1. In relation to company law, select the correct statement:

Company Law is a general term used to describe a large body of legal rules that govern the:

Select one:

a. Relationship between the Company and its dealings with outsiders

b. All of the above

c. Relationship between participants within Companies

d. Formation and termination of Companies

e. Characteristics of Companies

2.The main advantages of adopting a company structure are:

Select one:

a. All of the above

b. Companies can offer greater flexibility to decision makers

c. Companies offer limited liability

d. Company law is very well understood and controllers are able to buy/ rely on standard form contracts

e. Companies make it possible for business owners to take financial risks

f. Companies offer tax benefits

3.In relation to company classification, select the CORRECT option:

a. Proprietary companies can be classified as: Limited by shares, unlimited by sharecapital, limited by guarantee and no liability

b. Public companies can only be classified as: Limited by guarantee and No liability

c. Public companies can be classified as: Limited by shares, unlimited by sharecapital, limited by guarantee and no liability

d. None of the above

e. Proprietary companies can only be classified as: Limited by shares and/ or No liability

4.Select the CORRECT statement:

Select one:

a. Companies can choose to be governed by the Corporations Act

b. ASX monitors all companies in Australia

c. ASIC governs the Australian Securities Exchange

d. Public companies must be listed on the ASX

e. Public companies can choose to list on the ASX