Question

Which of the following statements is correct?

Options

• The death of members affect the life of a company.

• Members may come and go but the company goes on until it is wound up.

• The members of a company can be held liable for the debts of the company.

• Shareholders are the joint owners of the company’s property.

Answer 1

Members may come and go but the company goes on until it is wound up.

Explanation:

The company exists independently of its members. Members can come and go, but the corporation remains until it is wound up.