A company whose members undertake to contribute a specified amount on a winding up is a

Name: A company whose members undertake to contribute a specified amount on a winding up is a
Brand: Quizplus
Rating: 4.9 (54 reviews)

Question

Quizplus · Accepted Answer

A company limited by guarantee is a type of company where the members undertake to contribute a specified amount towards the company's debts in case of winding up, instead of owning shares in the company. This structure is often used for non-profit and charitable organizations.

A Company Whose Members Undertake to Contribute a Specified Amount