KASNEB CPA Intermediate Practice Questions - KASNEB Certified Public Accountants (CPA) - Intermediate Level (CA21-CA26) Exam

A promoter of a Kenyan company owes which duty BEFORE incorporation?

To avoid all pre-incorporation contracts on behalf of the proposed company To bind the unincorporated company to every contract they negotiate To disclose any secret profit or interest in transactions with the company To distribute preliminary profits to subscribers before incorporation

Correct Answer:

To disclose any secret profit or interest in transactions with the company

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