Starting in 2011,what Is the Definition of a Private Enterprise

question 33

Multiple Choice

Starting in 2011,what is the definition of a private enterprise (PE) under Canadian GAAP:

• A)A corporation that has no public shareholders.
• B)A corporation that has less than 500 shareholders and is not listed on a stock exchange..
• C)No distinction is made between private and publically accountable private enterprises for the purposes of IFRSs..
• D)A profit oriented enterprise that has none of its issued and outstanding financial instruments traded in a public market and does not hold assets in a fiduciary capacity for a broad group of outsiders as one of its primary businesses.

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Definitions:

Soviet Union

A former federation of communist republics located in northern Eurasia, existing from 1922 to 1991.

American Wheat

Refers to wheat produced in the United States, a major global exporter of wheat, known for its quality and used both domestically and internationally.

Derived Demand

The demand for a good or service that arises from the demand for another good or service; for example, the demand for steel is derived from the demand for automobiles.

Wage Rate

The amount of money a worker is paid per unit of time, such as an hour or a month.