Company Registration and Management Quiz

What do you need to register a company?

• Shareholder details (at least one shareholder for an Ltd).

• A registered office address in the UK.

• A Memorandum of Association (legal statement confirming intent to form the company).

• A company name that complies with legal naming rules.

• At least one director (for Ltd) or two directors (for PLC).

What’s the difference between directors and shareholders?

• Directors manage the company and ensure compliance.

• Shareholders own the company and invest in shares.

• Directors and shareholders are the same.

• Shareholders manage daily operations.

What are fiduciary duties, and why are they important?

• Legal obligations that directors must follow.

• Duties that shareholders must comply with.

• Responsibilities of the company secretary.

• Guidelines for company marketing strategies.

Can a private company have just one director?

• Yes

• No

What document contains a company’s internal rules?

• Articles of Association

• Memorandum of Association

• Confirmation statement

• Company registration form

Can a shareholder make day-to-day management decisions?

• Yes, if they are also a director.

• No, that’s the director’s role!

What is the primary role of a company director?

• To manage the day-to-day operations of the company.

• To oversee the company's strategic direction and ensure compliance with laws.

• To handle the company's marketing strategies.

• To manage the company's financial accounts.

What is a Memorandum of Association?

• A document that outlines the company's internal rules.

• A legal statement confirming the intent to form a company.

• A report on the company's financial performance.

• A guideline for the company's marketing strategies.