Q1.Determine if the statement is true or false

1.s128 gives the company powers of a natural person and states the company can issue shares.

2.A share is considered intangible property.

3.A court can validate the invalid issue of shares.

4.Preference shares have particular rights attached to them but they usually also limit the voting right of the shareholder.

Q2.Select the correct answer.

2. The Personal Properties Securities Register...

1. allows a potential lender to check whether a particular asset is already registered as security
2. B.contains the details a banned directors.
3. determines who is a member of the company.
4. is maintained by ASIC.

Q3.Choose all that apply.

1.An auditor..

A.must provide an independent opinion and true and fair view of the financial health of a company in audit report.

B.has a right to access the company's books.

C.can be removed by members of the company by resolution.

D.can only be appointed by a director.

Q4.S95A (1)

A.defines 'winding up'.

B.defines solvency as being able to pay debts as they become due and payable.

C.defines the duties of the auditor.

D.is used to determine whether a director has acted in good faith in the best interests of the company.

Q5.Select all that apply.

1.A voluntary administration ...

A.is managed by the auditor and the receiver

B.is managed by an administrator with owes duties to the company, like directors.

C.imposes duties on the administrator towards the creditors.

D.is triggered by directors who are hoping to save the company from financial collapse.