Question 17

Which of the following statements is true?

		In Australia, when a company buys back its shares, those repurchased shares are always cancelled
		In Australia, a company may own shares in itself
		When a company buys back its shares, the only equity account which the accounting standards permit to be decreased is the share capital account
		In Australia, when a company buys back its shares, it does not have to cancel them if it transfers them to a trust for the benefit of their employees