Question

Assertion (A): one person company is a company which has one person as its members.
Reason (R). Minor shall be come a member or nominee of the one person company​

Answer 1

Answer:

Assertion is true Reason is false

Answer 2

The assertion is correct but the reason is false

the reason is falseExplanation:

• the reason is falseExplanation:Section 2(62) of the Companies Act defines a one-person company as a company having only one person as to its member.

• Further, the members of a company are nothing but its Memorandum of Association, or its shareholders.

• So, an OPC is effectively a corporation that has just one shareholder as its partner.

• Particularly corporations are commonly established when there is only one founder/promoter for the industry.

• Entrepreneurs whose businesses are in their infancy, prefer to form an OPC instead of a sole proprietorship business because of the many benefits that OPCs provide.