The First Digit in a Social Insurance Number ________

question 4

Multiple Choice

The first digit in a social insurance number ________.

• A) has no meaning
• B) is related to the date of birth of the recipient
• C) indicates the province or region where the number was issued
• D) is sequentially numbered based on when the card was issued

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Definitions:

Insolvent Company

A company that cannot pay its debts as they come due or has liabilities exceeding its assets.

External Auditor

A professional firm or individual outside of an organization hired to examine its financial records and attest to the accuracy of its financial statements.

External Administration

External administration pertains to a process where an external person or entity is appointed to investigate, manage, and potentially restructure a financially distressed company's affairs to recover debts.

Corporation Act

Legislation governing the legal formation, operation, and regulation of companies.