Which One of the Following Is Not a Basic Right

question 11

Multiple Choice

Which one of the following is not a basic right of an owner of common share?

• A) Sharing in the responsibility of setting next year's budget.
• B) Sharing in the distribution of assets of the corporation at liquidation.
• C) Participation in the corporation by voting in shareholder meetings.
• D) Participation in the profits of the corporation through dividends declared by the board of directors.

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Definitions:

Legislation

Laws enacted by a legislative body, such as parliament or congress, to govern a specific area of concern.

Binding

Creating a legal obligation or a contract that is enforceable in a court of law.

Contract

A legally binding agreement between two or more parties that outlines obligations and rights with respect to services, products, or transactions.

Writing

The act or process of creating symbols such as letters or numbers on a surface to communicate or record information.