If a company’s constitution does not contain rules governing the forfeiture of shares, then the company: Select one: A. can register the shares in the name of another shareholder but cannot receive payment from that shareholder. B. may forfeit shares and reissue them at a later date. C. may forfeit shares but not reissue them. D. cannot forfeit shares.
If a company’s constitution does not contain rules governing the forfeiture of shares, then the company: Select one: A. can register the shares in the name of another shareholder but cannot receive payment from that shareholder. B. may forfeit shares and reissue them at a later date. C. may forfeit shares but not reissue them. D. cannot forfeit shares.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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If a company’s constitution does not contain rules governing the forfeiture of shares, then the company:
Select one:
A. can register the shares in the name of another shareholder but cannot receive payment from that shareholder.
B. may forfeit shares and reissue them at a later date.
C. may forfeit shares but not reissue them.
D. cannot forfeit shares.
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