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Accountancy · 2026 · 1 mark
CBSE 2026 · Region 1 · Set 2 · Q15
Which of the following is not correct about collateral security?
Which of the following is not correct about collateral security ?
'A company is formed according to the provisions of Company Law' indicates which of the following characteristics of a company ?
Official answer
(a) → (A)
(b) → (C)
Marking-scheme solution
(A)
It is a primary security.
OR
Q. (b) ‘A company is formed according….
Ans. (C) Body Corporate
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CBSE Class 12 Accountancy past-paper question from the 2026 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.