Replaceable Rules Deal With

question 20

Multiple Choice

Replaceable rules deal with:
I.The appointment,powers and remuneration of directors.
II.Director's and member's meetings.
III.Share transfers.
IV.Inspection of the company's books by members.

• A)I,II,III and IV
• B)II and III only
• C)I and IV only
• D)I,II and III only.

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Definitions:

Normal Debit Balance

Refers to the expected debit balance in certain types of accounts, like assets, expenses, and losses, indicating an increase in these accounts.

Revenue

The comprehensive sum of money a company makes from its primary business operations, namely selling goods or providing services.

Liabilities

A company's financial debts or obligations that arise during the course of business operations, required to be settled over time through the transfer of economic benefits.

Creditors

Individuals or entities to whom a company owes money or has financial obligations, typically arising from purchase of goods or services on credit.