ARTICLES OF ASSOCIATION
Every person in the world has some rules for his life management. Since, Company being an artificial person, do not have mind. But still it’s not possible to run this business vehicle without any rules. For this Articles of Association is there.
As per Section 2(5) of Companies Act, 2013, “Articles” means the articles of association of a company as originally framed or as altered from time to time or applied in pursuance of any previous Act or of this Act. Company according to their class can choose from as applicable and suitable for them from the available forms as per the schedule.
Memorandum of Association and Articles of Association of a company are the mandatorily required documents. These are drafted at the time of Incorporation of the company. Without these documents a company can not come into existence and Carry out business activities. Everyone is confused over the Memorandum and articles of the company.
In simple words, Articles of Association are bye-laws and regulations that govern the management of internal affairs and conduct the business of the company. They provide rules regarding the management and carrying on of business. Here is a quiz devoted on Articles of association of the company. Take the quiz to check your knowledge on Articles of association.
Treatment of Pre & Post Acquisition Profit
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- Question 1 of 10
The nature of pre-acquisition profit isCorrectIncorrect
- Question 2 of 10
How is self generated goodwill treated in books of accountsCorrectIncorrect
- Question 3 of 10
Treatment of post acquisition profit in the books of accounts isCorrectIncorrect
- Question 4 of 10
Types of goodwill can beCorrectIncorrect
- Question 5 of 10
Which AS is applicable on Intangible assetsCorrectIncorrect
- Question 6 of 10
Treatment of pre acquisition profit in the books of account isCorrectIncorrect
- Question 7 of 10
Which AS is specifically applicable for treatment of reserveCorrectIncorrect
- Question 8 of 10
How is purchased goodwill treated in books of accountsCorrectIncorrect
- Question 9 of 10
Method for valuation of goodwill can beCorrectIncorrect
- Question 10 of 10
How general reserve is treated in books of accountsCorrectIncorrect