Companies And Allied Matters Act 1990 Relating To Formation of Companies - SS2 Accounting Past Questions and Answers - page 1
1
What does the Companies and Allied Matters Act 1990 govern?
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A
The formation and management of companies in Nigeria
B
The regulation of the stock market
C
The management of government-owned corporations
D
The regulation of the insurance industry
2
How many people are required to form a company under the act?
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A
At least one person
B
At least two people
C
At least three people
D
At least four people
3
What is the registration process for a company under the act?
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A
Submitting a business plan and paying a fee
B
Submitting a memorandum and articles of association and paying a fee
C
Registering with the Nigerian Stock Exchange
D
Applying for a business license
4
What are some of the rules and regulations that registered companies must follow under the act?
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A
Keeping proper books of accounts and filing annual returns
B
Hiring a minimum number of employees
C
Investing in government securities
D
Holding meetings with government officials
5
What is the Corporate Affairs Commission (CAC)?
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A
A government agency responsible for regulating the stock market
B
A professional association for Accountants in Nigeria
C
A government agency responsible for registering and regulating companies
D
A regulatory body for the insurance industry
6
What are some of the documents required for the registration of a company under the Companies and Allied Matters Act 1990?
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7
What are some of the responsibilities of directors and officers of a company under the act?
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