The Shareholders of a Company Have the Power to Modify

question 33

Multiple Choice

The shareholders of a company have the power to modify or repeal the company constitution by:

• A)Ordinary resolution.
• B)A resolution passed by at least 75% of the voting shareholders present at general meeting.
• C)A majority vote.
• D)An application to the board of directors.

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Definitions:

Current Liability

Liabilities due within a short period, usually one year, that are to be paid with current assets.

Nearness to Maturity

The time remaining until a financial instrument reaches its specified maturity date, affecting its price and interest rate sensitivity.

Balance Sheet

A report detailing a firm's assets, liabilities, and owners' equity at a particular moment.

Order of Magnitude

A classification of scale or size of a quantity, where each class is ten times greater or smaller than the one before.