In Which of the Following Circumstances Will an Application to Register

question 47

Multiple Choice

In which of the following circumstances will an application to register a particular business name be rejected?

• A)Where the name is similar to one that has already been registered.
• B)Where the name is not in English.
• C)Where the name is the name of a person or group of persons.
• D)Where the name is deemed irrelevant to the type of business in question.

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Definitions:

Installment Method

A revenue recognition method allowing companies to recognize revenue and expense in proportion to the cash received from sales, typically used when sales are made with terms allowing payment over more than one year.

Percentage-of-completion Method

An accounting method that recognizes revenue and expenses related to long-term projects proportionally as the work is completed.

Temporary Differences

Differences between the carrying amount of an asset or liability in the balance sheet and its tax base that will result in taxable or deductible amounts in future periods.

Deferred Tax Liabilities

Future tax obligations that arise due to temporary differences between the book value and tax value of assets and liabilities.