Consider the following statements:
Assertion (A): The number of members in a company is 20 and hence the company is a private company.
Reason (R): According to the Companies Act, 1956 a private company is one, the number of members of which does not exceed 50.
A. Both A and R are true and R is the correct explanation of A
B. Both A and R are true but R is not correct explanation of A
C. Both A and R do not present the whole truth
D. Both A and R are false
Answer: Option C
This Question Belongs to Commerce >> Legal Aspects Of Business
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