Match List-I with List-II.
| LIST I | LIST II |
| (A) Companies Limited by Shares | (I) A company which has only one person as a member |
| (B) Companies Limited by Guarantee | (II) There is no limit on the liability of its member |
| (C) Unlimited Companies | (III) The liability of its members is limited to the amount they undertake to contribute in the event of the company being wound up |
| (D) One Person Company | (IV) The liability of its members is limited to the extent of the nominal value of shares held by them |
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)
On the basis of liability, companies are limited by shares, limited by guarantee or unlimited; on the basis of membership, one kind is the One Person Company.
(A) Companies Limited by Shares — this matches (IV) The liability of its members is limited to the extent of the nominal value of shares held by them. A member who has paid the full value of his shares owes nothing more.
(B) Companies Limited by Guarantee — this matches (III) The liability of its members is limited to the amount they undertake to contribute in the event of the company being wound up. The liability arises only on winding up.
(C) Unlimited Companies — this matches (II) There is no limit on the liability of its members. Creditors can claim their dues from the members’ private property.
(D) One Person Company — this matches (I) A company which has only one person as a member, as defined in Section 2(62) of the Companies Act, 2013.
NCERT (2026-27 edition): NCERT (2026-27 edition): NCERT (2026-27 edition): NCERT (2026-27 edition): |