There are two statements marked as Assertion (A) and Reason (R). Mark your answer as per the options given below.
Assertion (A): A company, whether public or private, can have any number of shareholders.
Reason (R): A public limited company can have any number of shareholders but a private company can have a maximum of 200 shareholders excluding its past and present employees.
Answer & explanation
Correct answer: option 3
A private company must have at least 2 persons, except in case of one person company and Limits the number of its members to 200 (excluding its employees);