A Corporation with One Type of Shares in Its Share

question 70

True/False

A corporation with one type of shares in its share structure must ensure that the basic shareholder rights attaching to those shares includes the right to vote,the right to elect officers,and the right to declare dividends.

---

Definitions:

Disposal of Equipment

The process of getting rid of fixed assets or equipment which is no longer useful or needed through sale, trade, or recycling.

Treasury Stock

Shares that were issued and subsequently repurchased by the issuing company, reducing the amount of outstanding stock on the open market.

Depreciation Expense

Depreciation Expense is the allocation of the cost of a tangible asset over its useful life, reflecting wear and tear, obsolescence, or other decline in value.

Net Income

The ultimate earnings of a company once total revenues are reduced by operating expenses, taxes, and all other costs.