Which of the Following Is NOT One of the Requirements

question 20

Multiple Choice

Which of the following is NOT one of the requirements for a design to be registered under the Designs Act 2003 (Cth) ?

• A)The design must satisfy a detailed examination by the registering authority.
• B)The design must be new and distinctive.
• C)The application must comply with the statutory formalities.
• D)The applicant must be the owner of the design.

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Definitions:

Fractional Reserve

A banking system in which banks hold a fraction of the deposits as reserves, lending the rest to generate profit.

Reserves

Assets kept on hand by a bank or financial institution to meet emergency needs or regulatory requirements.

Transactions Demand

The demand for money for the purpose of carrying out transactions or day-to-day expenditures.

Medium Of Exchange

An intermediary instrument, such as currency or digital tokens, used to facilitate the sale, purchase, or trade of goods and services between parties.