The Rules for Governing the Internal Affairs of a Company

question 57

Multiple Choice

The rules for governing the internal affairs of a company that have been built into the Corporations Law are called:

• A) constitution.
• B) prospectus.
• C) replaceable rules.
• D) memorandum of association.

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Definitions:

Constant Rate

A consistent, unchanging speed or pace at which something occurs or changes over time.

Diminishing Marginal Returns

The principle that adding an additional factor of production results in a smaller increase in output after a certain point.

Total Product

The total output or production by a firm using a given amount of inputs within a specific period.

Variable Input

A resource or factor of production whose quantity can be changed easily in the short term to adjust production levels.