Question:

According to section 179 which one of the following is a power of director?

A.

To buy back its shares

B.

Sell lease or otherwise dispose of the undertakings of the company

C.

Remit or give time for the repayment of any debt due by a director

D.

Making political contributions exceeding specified limits

Answer» a. To buy back its shares

Question:

A director of a limited company may not be liable for wrongful trading if he or she

A.

increased the valuation of its inventories to cover any potential shortfall

B.

brought in some expected sales from next year in to the current year

C.

took every step to minimise the potential loss to creditors

D.

introduce into the balance sheet an asset based on a valuation of its brands sufficient to meet

Answer» c. took every step to minimise the potential loss to creditors