When a Corporation Has Only One Class of Shares, Which

question 18

Multiple Choice

When a corporation has only one class of shares, which of the following is NOT one of the rights of shareholders?

• A)To vote at any shareholder meeting of the corporation.
• B)To vote at any director meeting of the corporation.
• C)To receive any dividend declared by the corporation.
• D)To receive any residual property of the corporation on dissolution.

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Definitions:

Operating Revenues

Income generated from the core business activities of a company, excluding any revenue from investments or secondary operations.

Other Revenues and Gains

Income generated from activities not directly related to the primary operations of a business.

Multiple-Step Income Statement

A multiple-step income statement is a more detailed financial statement that separates operating revenues and expenses from non-operating ones, providing insights into the different aspects of a company's performance.

Income From Operations

Also known as operating income, it reflects the revenue from a company's principal business activities minus its direct operating expenses (excluding non-operating income and expenses).