An OPC can be formed by any individual, partnership, or corporation without restrictions.Group of answer choicesTrueFalse

Describe the provisions with respect to formation of One Person Company (OPC) and also Cxplain the provisions regarding conversion of OPC into a Public or Private company.

The single stockholder of an OPC can be a natural person, a trust, or an estate.Group of answer choicesFalseTrue

A limited partnership is composed of at least two or more limited partners.Group of answer choicesTrueFalse

Each partner has the authority to enter into contracts which are binding upon the partnershipGroup of answer choicesTrueFalse

A corporation can only issue one class or kind of share.Group of answer choicesTrueFalse