• 1 Marks

FA – Nov 2013 – L1 – SA – Q18 – Accounting Concepts

Understanding the constitution of a limited liability company.

The constitution of a limited liability company is the:

A. Register of directors and secretary
B. Memorandum and Articles of Association
C. International Financial Reporting Standards
D. Financial Reporting Council of Nigeria Act 2011
E. Annual Financial Report

B. Memorandum and Articles of Association

Explanation:
The Memorandum and Articles of Association constitute the legal documents that establish a company’s constitution, outlining its purpose, governance structure, and internal regulations

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