New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    According to Companies Act 2013, what does OPC stand

    for?
    A One Person Company Correct Answer Incorrect Answer
    B On Public Certification Correct Answer Incorrect Answer
    C Open Public Corporation Correct Answer Incorrect Answer
    D Outside Parent Company Correct Answer Incorrect Answer

    Solution

    According to the Companies Act 2013, OPC stands for: One Person Company One Person Company (OPC) is a type of company that can be incorporated with just one individual as its member or shareholder. It was introduced to encourage and support entrepreneurs who want to start a company on their own without the need for a minimum number of shareholders. OPCs have limited liability protection similar to other private limited companies but are more suitable for small businesses operated by a single person.

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