A Proceeding Brought by One or More Shareholders in the Name

question 11

Multiple Choice

A proceeding brought by one or more shareholders in the name of the corporation in respect of a wrong done to the corporation is referred to as

• A)an oppression action.
• B)a winding-up action.
• C)a derivative action.
• D)an appraisal action.
• E)a negligence action.

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Definitions:

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including material and labor costs.

Merchandise Inventories

Goods that are held by a business for the purpose of resale to customers in the ordinary course of business.

Sales Budget

An estimate of expected sales revenue for a period, forming the basis for planning production, inventory, and cash flow.

Cash Receipts

The total amount of money received by a company during a given period, including all sources of income and revenue.