Memorandum of Associations - SS2 Accounting Past Questions and Answers - page 1
What is the purpose of the Memorandum of Association?
To outline the fundamental principles and purpose of a company
To provide an independent examination of a company's financial records
To ensure compliance with relevant laws and regulations
To outline the duties of the company's directors
Which clause in the Memorandum of Association specifies the registered office of the company?
Name Clause
Liability Clause
Objective Clause
Registered Office Clause
Which clause in the Memorandum of Association outlines the main objectives and purpose of the company?
Liability Clause
Capital Clause
Association Clause
Objective Clause
What is the capital clause in the Memorandum of Association?
It outlines the amount of capital that the company is authorized to raise and the types of shares that it can issue.
It specifies the registered office of the company.
It outlines the duties of the company's directors.
It states that the subscribers to the MOA wish to form a company.
Who approves any amendments to the Memorandum of Association?
The company's directors
The Registrar of Companies
The company's members
The government
What is the liability clause in the Memorandum of Association?
The liability clause specifies the extent of the liability of the members of the company.
Why is the Memorandum of Association a crucial document?
The Memorandum of Association is a crucial document as it establishes the legal existence of the company and defines the scope of its activities. It also sets out the powers and limitations of the company's directors and members.