Chapter 1
Corporate concept
NEB Class 12 past exam questions
Past questions and answers
9 questions set from this chapter. Most repeated first.
- 2083 Baishakh · 1 mark
Define company.
Answer
A company is an artificial legal person created by law, having a separate legal entity, perpetual succession, a common seal, and limited liability of its members.
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- 2082 Baishakh · 1 mark
Write any two features of Public Company.
Answer
Separate legal entity and limited liability of shareholders.
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- 2082 Supplementary · 1 mark
Write the meaning of company.
Answer
A company is a voluntary association of persons formed and registered under the Companies Act, having a separate legal entity distinct from its members, with perpetual succession and a common seal (or authorised seal), in which the capital is divided into transferable shares.
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- 2081 Baishakh · 1 mark
What is statutory company?
Answer
A company created by a special Act of Parliament or legislature is called a statutory company.
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- 2080 Baishakh · 1 mark
State any two contents includes in memorandum of association.
Answer
The name clause and the objects clause.
The memorandum of association is the charter of a company and its contents include the name clause (name of the company), registered office/domicile clause, objects clause (main and ancillary objects), liability clause, capital clause and association/subscription clause. Any two of these may be stated.
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- 2079 Jestha · 1 mark
What is a private company?
Answer
A private company is a company which, by its articles, restricts the transfer of its shares, has from one to a maximum of 101 shareholders, and does not invite the public to subscribe for its shares or debentures (Companies Act, 2063).
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- 2079 Model Set B · 1 mark
Mention any two important documents of a company.
Answer
Two important documents of a company are the Memorandum of Association (which states the company's name, objects, registered office and capital) and the Articles of Association (which contain the rules for managing its internal affairs). The Certificate of Incorporation and the Prospectus are also important documents.
Answer checked by Claude Sonnet · Oct 21, 2026
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- NEB Class 12 2079 Accounting Model Question Set A · 1 mark
State the meaning of private company.
Answer
A private company is a company which, by its articles, restricts the transfer of its shares, has from one to a maximum of 101 shareholders, and does not invite the public to subscribe for its shares or debentures (Companies Act, 2063).
Answer checked by Claude Sonnet · Oct 21, 2026
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Questions from NEB Class 12 2083 Accounting (Board exam, Baishakh 2083), NEB Class 12 2082 Accounting (Board exam, Baishakh 2082), NEB Class 12 2082 Accounting Supplementary Set A (Grade-increment / supplementary exam, Set A), NEB Class 12 2081 Accounting (Board exam, Baishakh 2081), NEB Class 12 2080 Accounting (Board exam, Baishakh 2080), NEB Class 12 2079 Accounting (Board exam, Jestha 2079), NEB Class 12 2079 Accounting Model Question Set A (NEB model paper, Set A) and NEB Class 12 2079 (2023) Accounting 1041 Model Question Set B (NEB model question paper, Set B, 2079 (2023); Set A is already on the site as neb-model-2079). Answers are written for this site; check them against your class notes.
Chapter titles and hours from the official syllabus ↗