In the Chapter 3 Reading "The Singer Solution to World

question 15

Multiple Choice

In the Chapter 3 reading "The Singer Solution to World Poverty," what does author Peter Singer suggest?

• A)Those who are fortunate to have "extra" money should save it for the future security of their own families.
• B)Individuals have a moral obligation to assist others who are less fortunate.
• C)It is counterproductive to ask individuals to give the bulk of their wealth to strangers.
• D)You do not have to take responsibility for struggles that take place on the other side of the world.

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Definitions:

Common Shares

Equity ownership units in a corporation, entitling holders to voting rights and dividends.

Share Capital

Share capital refers to the funds raised by a company through the issuance of shares, which represent ownership interests in the company.

IFRS

International Financial Reporting Standards, a set of accounting guidelines that provide the basis for financial reporting across many countries globally.

Noncumulative

Pertaining to dividends on preferred stock where missed dividends are not required to be paid back to shareholders in future payments.