Company Registration Process Quiz
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Questions and Answers

What happens to the subscribers to the memorandum of association upon registration of the company?

  • They become employees of the company
  • They are no longer associated with the company
  • They lose their status as subscribers
  • They become the first members (shareholders) of a body corporate (correct)

    • What is the inevitable consequence of the incorporation of a company?

  • Shared legal responsibility
  • Loss of legal status
  • Separate legal personality (correct)
  • No change in legal status

    • What does the incorporation of a company create?

  • A partnership
  • A sole proprietorship
  • A new and separate legal entity (correct)
  • An unincorporated association

    • What does 'piercing the corporate veil' refer to?

    <p>Looking behind the company framework to make the members liable</p> Signup and view all the answers

    What is the legal consequence of the incorporation of a company?

    <p>Creating a new and separate legal entity</p> Signup and view all the answers

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