Which of the Following Duties Is Not One of the Duties

question 1

Multiple Choice

Which of the following duties is not one of the duties owed by a director?

• A)A duty of care
• B)A duty to facilitate insolvent trading
• C)A duty to act for proper purposes
• D)A duty to disclose conflicts of interests

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Definitions:

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that serve as a global framework for preparing financial statements.

Accounting Standards

Rules and guidelines set by regulatory bodies that determine the framework for financial reporting and accounting practices.

Private Companies

Companies owned by individuals or groups that are not traded publicly and whose shares are not available on the stock market.

Public Companies

Companies whose shares are traded freely on a stock exchange, subject to regulatory reporting requirements and disclosure to the public.