When all of the authorized shares have the same rights and characteristics,the stock is referred to as:
A)"Preferred Shares" under both IFRS and GAAP
B)"Common Shares" under both IFRS and GAAP
C)"Plain Shares" under IFRS and "Common Shares" under GAAP
D)"Simple Shares" under IFRS and "Pure Shares" under GAAP
E)"Ordinary Shares" under IFRS and "Common Shares" under GAAP

Question

Quizplus · Accepted Answer

Ordinary Shares are the same as Common Shares under IFRS and GAAP, and refer to shares that have the same rights and characteristics. Therefore, it is the best choice.

When All of the Authorized Shares Have the Same Rights