Which of the Following Statements About Proprietary Companies Is Not

question 61

Multiple Choice

Which of the following statements about proprietary companies is not true?

• A)It can be distinguished from a public company based on the maximum number of shareholders.
• B)It cannot undertake fundraising activities that require the issue of a prospectus.
• C)It is not subject to as many obligations as a public company under the Corporations Act.
• D)It must be either a 'major proprietary company' or a 'minor proprietary company'.

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