JAMB - Accounts Principles Of Accounts (2025 - No. 21)
The document which sets out the internal arrangement for the proper management of a company is the
memorandum of association
prospectus
certificate of incorporation
article of association
Explanation
The Articles of Association set out the internal rules for managing a company, including shareholders’ rights, directors’ powers, and meeting procedures. The Memorandum of Association governs the company’s external relations. The Prospectus invites the public to subscribe to shares, while the Certificate of Incorporation proves the company’s legal existence.
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