Which of the Following Is NOT a Characteristic of the Proprietary

question 33

Multiple Choice

Which of the following is NOT a characteristic of the proprietary company?

• A)There need only be one director
• B)There is no obligation to hold an annual general meeting
• C)There must be no more than 50 non-employee shareholders
• D)Unlike small proprietary companies the proprietary company can advertise in newspapers to obtain loans

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Definitions:

Export Tariff

A tax imposed by a government on goods being exported from a country, often used to regulate trade balances.

Free Trade

The unrestricted buying and selling of goods and services between countries without the imposition of tariffs, quotas, or other restrictions.

Domestic Producers

Companies or individuals that manufacture or produce goods and services within their home country, as opposed to importing them from abroad.

Tariffs and Quotas

These are trade policies where tariffs are taxes on imported goods, and quotas are limits on the amount of a good that can be imported.