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.

Practice Next
×
×