Which of the Following Is Not a Characteristic of the Majority

question 20

Multiple Choice

Which of the following is not a characteristic of the majority of the equity issued by companies listed on the ASX?

• A)The liability of shareholders is limited to the amount of capital they have invested.
• B)They have an infinite life.
• C)Shareholders cannot vote on resolutions put forward at annual general meetings.
• D)They pay dividends,which are set annually.

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Definitions:

CICA Handbook

The official manual for accounting practices in Canada, issued by the Canadian Institute of Chartered Accountants, serving as a reference for accountants on standards and regulations.

Canadian Accounting Standards

The set of accounting principles that guide financial reporting and practices in Canada, ensuring consistency and transparency across financial statements.

Publicly Accountable Enterprises

Organizations that have a duty to report financial information to the public, often because their debt or equity instruments are traded in a public market.

IFRS

International Financial Reporting Standards; a set of global accounting standards designed to ensure consistency and transparency in financial reporting.