The correct answer is Option (4) → (C) and (D) only
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(A) A company is an artificial person. True. A company is created by law, not by nature. It exists independently of its members, has a separate legal identity, and can own property, contract debts, and sue or be sued in its own name.
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(B) The company's shares are generally transferable. True. This is a core feature of a public limited company. Shares can be freely transferred by a member without the consent of the other members. While private companies restrict this right, the general characteristic of a company is transferability.
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(C) Shareholders of a company are liable for the acts of the company. False. The fundamental characteristic is limited liability. Shareholders' liability is typically limited to the nominal value of the shares they hold. They are not personally liable for the debts or acts of the company itself.
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(D) Every member of a company is entitled to take part in its management. False. Management is separated from ownership. Shareholders are the owners, but they delegate the power to manage the company to the Board of Directors. Shareholders can influence management through voting at general meetings, but they do not have the right to participate in the day-to-day management of the business.
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