The document which sets out the internal arrangement for the proper management of a company...

Accounts - Principles of Accounts

WAEC 2015

The document which sets out the internal arrangement for the proper management of a company is the

A. Prospectus
B. Article of association
C. Memorandum of association
D. Certificate of incorporation

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Correct Answer: Option B

Explanation

Articles of association are a document that specifies the regulations for a company's operations and defines the company's purpose. The document lays out how tasks are to be accomplished within the organization, including the process for appointing directors and the handling of financial records. it outlines the internal regulations of the company.

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