Economics · Company Law
Given below are two statements: one is labelled as Assertion A and the other is labelled as Reason R. Assertion A: Promoters are the individuals or entities responsible for taking the initial steps to identify a business opportunity and execute the formal incorporation of a company. Reason R: Promoters are legally required to issue the Certificate of Incorporation (COI) to officially recognize the company's existence. In the light of the above statements, choose the most appropriate answer from the options given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A is not correct but R is correct
- 2A is correct but R is not correct✓
- 3Both A and R are correct but R is NOT the correct explanation of A
- 4Both A and R are correct and R is the correct explanation of A
Correct answer
A is correct but R is not correct
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