Each pet has 3 abilities it can use during a battle, but a total of 6 to choose from. They will also have a total of 3 active spell slots that show which abilities can be used during a Pet Battle. The first spell slot will already be unlocked, but the second and third will only become available once the companion has reached a certain level. Other spells will also unlock after reaching higher levels.
Learned this today: posted a comment, came back later to see if there was any feedback, reloaded the page: the page posted a copy of my comment. That was not what I wanted. I just wanted to check if my comment was posted and if there were some responses. I did not want to post a copy of my comment from 5 hours ago. And, a humble guess, I think the majority of the users are not expecting such behavior either.
FYI: If you’re returning to WoW after an extended absence prior to patch 5.0.1, it’s possible that you’ll have more than the maximum pet limit and/or more than 3 of a kind. However, this will be the only time that you’re allowed to surpass these limits. You will have to pare down your collection, eliminating your duplicates, in order to add new pets.