Match List-I with List-II List-

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Target Exam

CUET

Subject

-- Accountancy Part A

Chapter

Accounting for Shares

Question:

Match List-I with List-II

List-I	List-II
(A) Separate Legal Entity	(I) A company being a legal person can enter into contracts and can enforce the contractual rights against others.
(B) Perpetual Succession	(II) It can hold and deal with any type of property. It can enter into contracts and even open a bank account in its own name.
(C) Common Seal	(III) The company being an artificial person created by law continues to exist irrespective of the changes in its membership.
(D) May Sue or be Sued:	(IV) The company being an artificial person, cannot sign its name by itself.

Choose the correct answer from the options given below:

Options:

(A)-(II), (B)-(III), (C)-(IV), (D)-(I)

(A)-(II), (B)-(III), (C)-(I), (D)-(IV)

(A)-(II), (B)-(I), (C)-(IV), (D)-(III)

(A)-(III), (B)-(IV), (C)-(I), (D)-(II)

Correct Answer:

(A)-(II), (B)-(III), (C)-(IV), (D)-(I)

Explanation:

The correct answer is Option (1) → (A)-(II), (B)-(III), (C)-(IV), (D)-(I)

List-I	List-II
(A) Separate Legal Entity	(II) It can hold and deal with any type of property. It can enter into contracts and even open a bank account in its own name.
(B) Perpetual Succession	(III) The company being an artificial person created by law continues to exist irrespective of the changes in its membership.
(C) Common Seal	(IV) The company being an artificial person, cannot sign its name by itself.
(D) May Sue or be Sued:	(I) A company being a legal person can enter into contracts and can enforce the contractual rights against others.