11-13-2017, 12:36 PM
Assignment 1 Solution
MGT211 Introduction to Business
Fall 2017
Solution:
1. I will accept the proposal due to the following reasons:
We have to fill the following documents and submit in the registrar's office
NOTE: Do not copy/paste this solution, only get the idea, read out Lecture 5 and 6 from MGT211 handouts and write your answers yourself.
MGT211 Introduction to Business
Fall 2017
Solution:
1. I will accept the proposal due to the following reasons:
- It will be the major step required to expand my business.
- It will make it easy to get investments, selling share to collect large capital will also be a plus point.
- As a company, it will be easier to get Credit from banks and other financial institutions.
- Due to large capital, it will make it possible to hire Experts and make large scale production, hence larger profits.
- It will also have a limited liability, long life and it will also be easy to exit from the company.
We have to fill the following documents and submit in the registrar's office
- (a) Memorandum of Association A document indicating name, address, objects, authorized capital etc. of a company.
- (b) Articles of Association A document containing laws and rules for internal control and management of a company
- © List of Directors A list of the names, occupations, addresses, along with the declaration of directors.
- (d) Written Consent of Directors A written consent showing their willingness to act at directors, to be sent to the Registrar
- (e) Declaration of Qualifying Shares A declaration certificate showing that the directors have taken up qualifying shares and have paid up the money or pay it in near future to the registrar.
- (f) Prospectus Promoters have to file a prospectus with the registrar.
- (g) Statutory Declaration A statutory declaration is to be sent to the Registrar that all legal formalities have been completed.
- (a) Memorandum of Association A document indicating name, address, objects, authorized capital etc. of a company.
NOTE: Do not copy/paste this solution, only get the idea, read out Lecture 5 and 6 from MGT211 handouts and write your answers yourself.