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Ownership and Responsibilities in a Company

Authored by Suzette Scharschmidt

Other

12th Grade

Ownership and Responsibilities in a Company
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21 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who automatically becomes the first shareholders of the company according to the memorandum of association?

Employees of the company

Subscribers to the memorandum

Customers of the company

Directors of the company

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the procedure for buying existing shares called?

Share acquisition

Share transfer

Share purchase

Share exchange

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why does a shareholder agreement not need to be made public?

It is a government regulation

It is a private contract

It is compulsory

It involves the company itself

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is NOT a benefit of a shareholder agreement?

It binds all parties to the terms

It must be made public

Usual remedies for breach are available

It can protect minority shareholders

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a consequence of shareholders agreeing to how they might vote as directors?

It strengthens their duties as directors

It breaches their duties as directors

It is a compulsory agreement

It involves the company itself

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a true statement about shareholder agreements?

They are compulsory for all companies

They are public documents

They are private contracts

They limit the company’s statutory duties

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is required for a company to amend its articles according to typical shareholder agreements?

Consent of all parties

Majority vote

Board approval

CEO decision

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