Which of the following is NOT a right of shareholders?

• A. Right to receive dividends
• B. Right to attend meetings
• C. Right to approve mergers
• D. Right to receive surplus on dissolution

Answer: (C)

Shareholders possess various rights that contribute to their engagement and protection within a corporation. The right to approve mergers is often not directly granted to all shareholders. Typically, the right to vote on mergers is reserved for certain classes of shareholders or is determined by a majority vote from a specified group rather than being a universal right of all shareholders.

In contrast, all shareholders typically have the right to receive dividends, attend meetings, and receive any surplus in the event of the company's dissolution, as these rights are fundamental to their ownership and investment in the company. The right to vote on significant corporate changes like mergers usually requires a more formalized process and can involve specific conditions that not all shareholders may meet, which makes it a less universal right compared to the others mentioned.