Match List-I with List-II.
| LIST I (TYPES OF COMPANY) |
LIST II (CHARACTERISTICS) |
| (A) Unlimited Companies | (I) Liability arises only in the event of winding up |
| (B) One Person Company | (II) Limits the number of members to 200 |
| (C) Private company | (III) Paid up capital is not more than 50 lakhs |
| (D) Companies Limited by Guarantee | (IV) Creditors can claim their dues from the members |
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → (A)-(IV), (B)-(III), (C)-(II), (D)-(I)
Companies are classified by the liability of their members (limited by shares, limited by guarantee, unlimited) and by the number of members (public, private, one person company).
(A) Unlimited Companies — this matches (IV) Creditors can claim their dues from the members. There is no limit on the members’ liability, so when the company’s property falls short, the private property of the members can be used to pay its creditors.
(B) One Person Company — this matches (III) Paid up capital is not more than 50 lakhs. Under Rule 3 of the Companies (Incorporation) Rules, 2014, an OPC is a company with one member whose paid up share capital does not exceed Rs. 50 lakhs.
(C) Private company — this matches (II) Limits the number of members to 200. A private company’s articles restrict the transfer of shares and limit its members to 200 (excluding employees).
(D) Companies Limited by Guarantee — this matches (I) Liability arises only in the event of winding up. Members promise to contribute a fixed amount only if the company is wound up, so their liability arises only then.
NCERT (2026-27 edition):
|
