Post Utme Ui 2023 Commerce Question 7

Practice objective / multiple choice question 7 from the 2023 Post Utme Ui Commerce examination.

Post Utme Ui 2023 Commerce Objective / Multiple Choice

Question 7 POST_UTME_UI • 2023 • COMMERCE • objective

A company's Memorandum of Association contains a clause that restricts the company's power to borrow money. What is the legal effect of this clause?

A. The company can borrow money without restriction

B. The company can borrow money only with the approval of the shareholders

Correct Answer C. The company cannot borrow money at all

D. The company can borrow money only up to a certain amount

Correct Answer

Correct Option:

The company cannot borrow money at all

This is Post Utme Ui 2023 Commerce Question 7. It is one of the objective questions from the 2023 Post Utme Ui Commerce examination.

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows

Chat with Support