Which of the Following Statements Is Incorrect

question 33

Multiple Choice

Which of the following statements is incorrect?

• A) If the company is limited by shares, members do not have to contribute more than the amount unpaid on the shares for which each is liable as a past or present member.
• B) Past members must contribute money for company debts which have been incurred after they cease to be members.
• C) Most liquidations in Australia do not have sufficient funds to pay creditors.
• D) In the absence of any guidance in the company's constitution, calls in advance with related interest will be repaid before any payments are made to shareholders.

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Definitions:

Tenebrism

Painting in the “shadowy manner,” using violent contrasts of light and dark, as in the work of Caravaggio. The term derives from tenebroso.

Skiagraphia

Greek, “shadow painting.” The Greek term for shading, said to have been invented by Apollodoros, an Athenian painter of the 5th century BC.

Chromatism

The quality or state of being chromatic, which involves the use of color or the ability to produce color, often used in the context of art and music to denote vividness and diversity in color or tone.

Still Life

A picture depicting an arrangement of inanimate objects.