Select the correct answer from the options given below and rewrite the statement:

i. A company is _______ 

(a) a human being 

(b) an artificial person created by law 

(c) a natural individual

ii. _______ are the persons who undertake the process of formation of a company. 

(a) Promoters 

(b) Directors 

(c) Registrar of companies

iii. A _______ company needs minimum two or more members. 

(a) Public 

(b) Private 

(c) One person Company

iv. In a public company there must be minimum _______ or more members. 

(a) one 

(b) two 

(c) seven

v. _______ refers to contracts entered into by the promoters on behalf of a proposed company. 

(a) Pre-incorporation/Prehminary contracts 

(b) Fiduciary contracts 

(c) Memorandum of Association

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1 Answers

i. (b) an artificial person created by law

ii. (a) Promoters

iii. (b) Private

iv. (c) seven

v. (a) Pre-incorporation/Preliminary contracts

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