Please use the space provided on the inside cover of the Candidate Answer Booklet to indicate your chosen answer to each multiple choice question.
Each question is worth 2 marks.
Which of the following statements are TRUE of limited liability companies?
(1) The company’s exposure to debts and liability is limited
(2) Financial statements must be produced
(3) A company continues to exist regardless of the identity of its owners
A 1 and 2 only
B 1 and 3 only
C 2 and 3 only
D 1, 2 and 3
Answer:
C
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