11th Class Business Studies Formation Of A Company

  • question_answer 18) If a company suffers heavy issues and its assets are not enough to pay off its liabilities, the balance can be recovered from the private assets of its members.

    Answer:

    False The shareholders of a company are liable to the extent of the amount unpaid on the shares held by them. Also, only the assets of the company can be used to settle the debts, leaving the members' personal property free from any charge.

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