If a company has sales of $8 million, assets of $4 million and 60 employees, then it may be classified as a small proprietary company.

Question

Quizplus · Accepted Answer

According to the Australian Securities and Investments Commission (ASIC), a company may be classified as a small proprietary company if it meets at least two of the following criteria - having less than $25 million in consolidated revenue, fewer than 50 employees, and assets worth less than $12.5 million. Based on the given figures, the company in question meets two of these criteria, which qualifies it to be classified as a small proprietary company.

If a Company Has Sales of $8 Million, Assets of $4