Define 'Memorandum of Association | Class 11 Business Studies Chapter Formation of a Company, Formation of a Company NCERT Solutions

Question:

Define 'Memorandum of Association' and its significance.

Answer:

The Memorandum of Association is a foundational legal document that defines the key parameters under which a company operates. It outlines the company’s name, registered office, objectives, scope of activities, and the extent of liability of its members. This document is critical as it governs the relationship between the company and the external environment, serving as a public record accessible to stakeholders. It establishes the operational boundaries of the company and ensures transparency and legal compliance.

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NCERT questions are designed to test your understanding of the concepts and theories discussed in the chapter. Here are some tips to help you answer NCERT questions effectively:

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Reference examples and data from the chapter when answering questions about Formation of a Company.
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Welcome to the NCERT Solutions for Class 11 Business Studies - Chapter . This page offers a step-by-step solution to the specific question from Extra Questions, Question 2: Define 'Memorandum of Association' and its significance.....

Define 'Memorandum of Association | Class 11 Business Studies Chapter Formation of a Company, Formation of a Company NCERT Solutions

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