One of the Main Principles of the Corporations Act 2001

question 2

Multiple Choice

One of the main principles of the Corporations Act 2001 has been the protection of those dealing with the company including:

• A)the creditors
• B)the shareholders
• C)the employees
• D)all of the above

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Definitions:

Factoring Transaction

A financial transaction where a business sells its accounts receivable to a third party at a discount to obtain immediate cash.

Risks And Rewards

The potential positive or negative outcomes of business activities or investments, considering the chance of gain or loss.

Loss Of Control

Refers to a situation where an entity or individual no longer has the ability to govern or manage the operations or decisions of a company or asset.

Financial Statements

Financial statements are written records that convey the business activities and the financial performance of a company, including the balance sheet, income statement, and cash flow statement.