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WAEC Commerce 2023 Question 5

Question 5

Business Units

A document in which the internal regulations of a company are stated is

  1. A.Partnership Deed.
  2. B.Memorandum of Association.
  3. C.Certificate of Incorporation.
  4. D.Articles of Association.
Show the answer and explanation

Answer: D (Articles of Association.)

Explanation

The Articles of Association set out the internal rules of a company; the Memorandum deals with its relations with outsiders.