Which of the Following Statements About Proprietary Companies Is Not

question 61

Multiple Choice

Which of the following statements about proprietary companies is not true?

• A)It can be distinguished from a public company based on the maximum number of shareholders.
• B)It cannot undertake fundraising activities that require the issue of a prospectus.
• C)It is not subject to as many obligations as a public company under the Corporations Act.
• D)It must be either a 'major proprietary company' or a 'minor proprietary company'.

Understand the significance of certification, collective bargaining, and the legal status of trade unions.

Delineate the protections and limitations related to workers' compensation benefits and the obligations of employers regarding workplace injuries.

Comprehend the statutory and constitutional rights related to union membership, collective bargaining, and striking.

Identify what constitutes just cause for dismissal without notice and the factors considered in assessing wrongful dismissal damages.

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Definitions:

Merchandise Purchased

Goods bought by a business for the purpose of resale, forming part of its inventory.

Cost Of Goods Available

The total cost of all merchandise or materials available for sale or use, including beginning inventory plus purchases.

Purchase Returns

Goods returned by the buyer to the supplier due to defects, inaccuracies in shipment, or other discrepancies.

Allowances

A deduction from the gross amount on an invoice by the buyer for goods purchased or to cover some type of shortcoming.