Which of the Following Statements About a No Liability Company

question 71

Multiple Choice

Which of the following statements about a no liability company is incorrect?

• A) A no liability company will issue shares on a partly paid basis.
• B) In Australia only mining companies can list as a no liability company.
• C) A no liability company may also offer shareholders an option to sell shares back to the company if the company exploration is not successful.
• D) If a no liability gold-mining company discovers gold then for the product phase the company may issue a further call on the partly paid shares.

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Definitions:

Parasitic

Describes organisms that live on or in a host organism and cause harm to the host.

Scavenging

The act of consuming dead or decaying organic material, a behavior observed in some animals, bacteria, and fungi.

Ectotherm

Animal in which internal temperature is regulated by changes in behavior; for example, a fish or a lizard.

Reptiles

Cold-blooded, vertebrate animals that lay eggs and have skin covered with scales or bony plates.