Which of the Following Statements Is Incorrect

question 38

Multiple Choice

Which of the following statements is incorrect?

• A) A receiver must obtain permission from the company before selling any assets.
• B) A receiver is required to open a special bank account and must lodge a statement of receipts and payments every 6 months.
• C) Within 14 days of the receiver's appointment, the company is required to submit a report to the receiver detailing the affairs of the company.
• D) Wages, superannuation contributions, the superannuation guarantee change, long service leave, sick leave and retrenchment payments are to be given priority over circulating security interests when the company is in receivership, but not yet in the process of being wound up.

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Definitions:

Core Competency

A defining strength or ability that a company excels at, distinguishing it from competitors and contributing to its success.

Marketplace

An open environment in which goods and services are exchanged between buyers and sellers.

General Environment

The general environment encompasses the broad external conditions that can impact an organization, such as economic, legal, technological, and sociocultural factors, influencing its strategies and performance.

Technological Conditions

The state of available technology and its influence on a company's operations, capabilities, and industry environment.