Starting in 2011,what is the definition of a private enterprise (PE) under Canadian GAAP:
A) A corporation that has no public shareholders.
B) A corporation that has less than 500 shareholders and is not listed on a stock exchange..
C) No distinction is made between private and publically accountable private enterprises for the purposes of IFRSs..
D) A profit oriented enterprise that has none of its issued and outstanding financial instruments traded in a public market and does not hold assets in a fiduciary capacity for a broad group of outsiders as one of its primary businesses.
Correct Answer:
Verified
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