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WAEC Commerce 1992 Question 29

Question 29

Business Units

The minimum number of membership for a public limited company is

  1. A.two
  2. B.seven
  3. C.seventeen
  4. D.twenty
  5. E.fifty
Show the answer and explanation

Answer: A (two)

Explanation

Under Nigeria's Companies and Allied Matters Act, a public limited company needs at least two members. The old rule of seven members was dropped long ago.