The word Ltd written after the name of a company means that?

Assessment: WAEC SSCE - Commerce - 1990 (Objective) Subject: Commerce

Question 1 Report

The word Ltd written after the name of a company means that?
Answer Details
When the word "Ltd" is written after the name of a company, it means that the liability of its members is limited to the amount of their shareholdings in the company. This means that in the event of the company's insolvency or failure, the personal assets of the members are protected, and they cannot be held personally liable for any debts or losses incurred by the company beyond the amount of their investment. Therefore, the correct answer is "members are liable to the extent of their holding."
Read lesson note on Legal Aspects Of Business (JAMB)
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