Match List-I with List-II:List-IList-II(A) Companies Limited by Shares(I) When the company's property is not sufficient to pay off its debts, the private property of its members can be used for the purpose.(B) Companies Limited by Guarantee(II) Restricts the right to transfer its shares(C) Unlimited Companies(III) If a member has paid the full amount of the shares, there is no liability on his part whatsoever for the debts of the company.(D) Private Company(IV) The liability of its members is limited to the amount they undertake to contribute in the event of the company being wound up.Choose the correct answer from the options given below:
- A(A) - (I), (B) - (II), (C) - (III), (D) - (IV)
- B(A) - (II), (B) - (I), (C) - (III), (D) - (IV)
- C(A) - (I), (B) - (II), (C) - (IV), (D) - (III)
- D(A) - (III), (B) - (IV), (C) - (I), (D) - (II)
Solution & Step-by-step Explanation
The correct match for the types of companies is:Companies Limited by Shares (A) matches with (III): If a member has paid the full amount of the shares, there is no liability on his part whatsoever for the debts of the company.Companies Limited by Guarantee (B) matches with (IV): The liability of its members is limited to the amount they undertake to contribute in the event of the company being wound up.Unlimited Companies (C) matches with (I): When the company's property is not sufficient to pay off its debts, the private property of its members can be used for the purpose.Private Company (D) matches with (II): Restricts the right to transfer its shares.Therefore, the correct choice is (A) - (III), (B) - (IV), (C) - (I), (D) - (II).