GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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ABN
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Professional
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Legal
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Trading
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Detailed explanation-1: -To legitimise business operation and validate service, a company must register its business. This authenticates its existence as a private limited company. It helps the company convince and attract potential investors.
Detailed explanation-2: -Business legal names and trade names are not the same. The former is a registered name, whereas the latter is a chosen name to conduct operations. Companies use this name to create brand awareness and a community.
Detailed explanation-3: -A trade name is a name under which a person transacts business, other than one’s legal name (personal name) or a registered corporate name, general or limited partnership name, limited liability company name or limited liability partnership name.
Detailed explanation-4: -Example of Trade Name For example, there are many highly recognized companies having the other DBA name from the company’s name such as Google, IBM, Walmart, Visa, eBay, FedEx, 3M, Coca-Cola, Nike, UPS, GAP, Apple, McDonald’s, Microsoft, Starbucks, and so on.
Detailed explanation-5: -Common names of chemicals are determined by cultural and historical factors, whereas trade names generally refer to the substance’s chemical name.