Dividends and Liquidation Quiz

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Dividends and liquidation basics

Créé par

Susan McLeggan

Jamaica

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Dividends and Liquidation Quiz


Dividends and Liquidation QuizVersion en ligne Dividends and liquidation basics par Susan McLeggan 1 From what source can a company legally pay dividends? a From future profits. b A company can only pay dividends from its earned or distributable profits, not from its capital. c From reserves regardless of distributable profits. d From its capital. 2 What must a company ensure before paying a dividend? a The company must maximize profits. b The dividend equals all profits. c The company must remain solvent by being able to pay its debts as they fall due and ensuring its assets still exceed its liabilities after the dividend is paid. d The directors' personal wealth. 3 Why are there legal restrictions on paying dividends? a The restrictions protect creditors by ensuring company assets remain available to pay outstanding debts and maintain financial stability. b To speed up cash flow. c To increase executive bonuses. d To confuse shareholders. 4 What are the consequences of paying an unlawful dividend? a Shareholders may have to repay the dividend if they knew it was unlawful, directors may be personally liable, and the company may face legal action. b No consequences. c Only fines to the company. d Only shareholders repay. 5 When is a dividend considered unlawful? a When it is paid to all shareholders. b A dividend is unlawful when it is paid without sufficient distributable profits or when paying it would make the company unable to meet its financial obligations. c When directors disagree. d When profits are high. 6 Who may be held liable for an unlawful dividend? a Only the company. b Only auditors. c Only shareholders who didn't know. d Both directors who authorized the payment and shareholders who knowingly received the unlawful dividend may be held liable. 7 What is liquidation? a A voluntary reinvestment. b Filing for bankruptcy without asset sale. c A process of expanding business. d Liquidation is the legal process of closing a company by selling its assets, paying its debts in the legal order, distributing any remaining funds to shareholders, and dissolving the company. 8 who is to be paid last in the order of payment when a company is being liquidated ? a Employees b Directors c Creditors d Shareholders

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Dividends and Liquidation Quiz

Test

À propos de cette activité

Créé par

Téléchargez la version pour jouer sur papier

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Dividends and Liquidation QuizVersion en ligne

par Susan McLeggan

From what source can a company legally pay dividends?

What must a company ensure before paying a dividend?

Why are there legal restrictions on paying dividends?

What are the consequences of paying an unlawful dividend?

When is a dividend considered unlawful?

Who may be held liable for an unlawful dividend?

What is liquidation?

who is to be paid last in the order of payment when a company is being liquidated ?