CUET Accountancy - Which of the following statement is incorrect - A private company is one which by its articles of association: 1. Restricts the right to transfer its shares 2. A private company must have at least 2 persons, except in case of one person company 3. Its paid up share capital is not more than Rs. 50 Lakhs 4. Limits the number of its members to 200 (excluding its employees) | PYQs + Solutions

CUET Accountancy 2025 27 May Shift 1

Company Accounts

Medium

common

Restricts the right to transfer its shares

A private company must have at least 2 persons, except in case of one person company

Its paid up share capital is not more than Rs. 50 Lakhs

Limits the number of its members to 200 (excluding its employees)

✅ Correct Option: 3

CUET Accountancy 2025 27 May Shift 1 PYQs