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In the case of a company with unlimited liability, what is the extent of a member's liability?
  • a)
    Limited to the amount of their share capital
  • b)
    Limited to the amount they undertook to contribute in the event of winding up
  • c)
    Unlimited
  • d)
    Limited to the nominal value of shares they hold
Correct answer is option 'C'. Can you explain this answer?
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In the case of a company with unlimited liability, what is the extent ...
In a company with unlimited liability, every member is liable in full for all debts contracted by the company during the period they were a member.
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In the case of a company with unlimited liability, what is the extent of a member's liability?a)Limited to the amount of their share capitalb)Limited to the amount they undertook to contribute in the event of winding upc)Unlimitedd)Limited to the nominal value of shares they holdCorrect answer is option 'C'. Can you explain this answer?
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In the case of a company with unlimited liability, what is the extent of a member's liability?a)Limited to the amount of their share capitalb)Limited to the amount they undertook to contribute in the event of winding upc)Unlimitedd)Limited to the nominal value of shares they holdCorrect answer is option 'C'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about In the case of a company with unlimited liability, what is the extent of a member's liability?a)Limited to the amount of their share capitalb)Limited to the amount they undertook to contribute in the event of winding upc)Unlimitedd)Limited to the nominal value of shares they holdCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In the case of a company with unlimited liability, what is the extent of a member's liability?a)Limited to the amount of their share capitalb)Limited to the amount they undertook to contribute in the event of winding upc)Unlimitedd)Limited to the nominal value of shares they holdCorrect answer is option 'C'. Can you explain this answer?.
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