The Inclusion of a Report of the Trustees of a Superannuation

question 16

Multiple Choice

The inclusion of a report of the trustees of a superannuation plan is:

• A) required by AAS 25
• B) the same as an actuarial report
• C) recommended by the ASFA
• D) not relevant for a self-managed plan

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Definitions:

Ordinary Shares

Shares that have no specific rights to any distributions of profit by the company. Ordinary shareholders obtain what is left after all other parties’ claims have been met.

Liquidation

The process of converting assets into cash or paying off liabilities in order to close down a business.

Liquidations

The process of winding up a company's financial affairs by selling off assets to pay creditors and distribute any remaining assets to shareholders.

Calls in Advance

Funds received by a company from its shareholders before they are actually called for, typically for the issue of shares.