WAEC Commerce 2013 Objective — Question 14

Question 14 of 50 from the West African Examinations Council (WAEC) Commerce 2013 Objective paper, with the correct answer and a full explanation.

The object clause of a limited liability company is stated in the

A. memorandum of AssociationCorrect
B. article of association
C. certificate of incorporation
D. trading certificate

Explanation

The object clause is what specifies the area of business of the organisation. This information is needed by outsiders to know what area they can deal with the company. Anything that spells out the relationship of the company with outsiders is contained in the Memorandum of Association.

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