- 1 Marks
Question
The type of company that limits its membership to fifty, excluding past and present employees who have acquired shares by virtue of their employment, is a:
A. Limited partnership
B. Public company
C. Private company
D. Cooperative society
E. Unlimited company
Answer
C. Private company
Explanation:
A private company is characterized by limiting its membership to fifty individuals, not counting past and present employees who have acquired shares through their employment.
- Tags: Company Law, Membership, Private Company
- Level: Level 1
- Topic: Company Law
- Series: NOV 2011
- Uploader: Theophilus