Strata Management Licensing Practice Exam · Question
When does the fiscal year of a strata corporation typically begin?
Section 35(2) of the Strata Property Act states that the fiscal year end is determined at the strata corporation's first general meeting and does not have to al
Start free practice for Strata Management Licensing Practice Exam
252 questions · no signup required · 40 free questions per day
Question: When does the fiscal year of a strata corporation typically begin?
Answer options:
- January 1st of each year.
- Within 6 months of the strata plan being filed. ✅ As determined by the strata corporation's first general meeting, then annually thereafter.
- It is always aligned with the calendar year.
Correct answer: As determined by the strata corporation's first general meeting, then annually thereafter.
Explanation: Section 35(2) of the Strata Property Act states that the fiscal year end is determined at the strata corporation's first general meeting and does not have to align with the calendar year, remaining consistent thereafter.
Start free practice for Strata Management Licensing Practice Exam
252 questions · no signup required · 40 free questions per day
More about Strata Management Licensing Practice Exam
More for Strata Management Licensing Practice Exam candidates
Ready to practice?
Free, no signup required. Build a wrong-question list as you go.
Start Free Strata Management Licensing Practice Exam Practice →Related courses
Other Canadian certifications candidates often prepare for alongside this one.