State the following statement is True or False:
It is the promoters who conceive the idea of a company.

True

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False

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Solution

The correct option is A True
True.
Promoters are the persons who conceive the idea of a company.
A promoter is a person who does the preliminary work incidental to the formation of a company, including its promotion, incorporation, and flotation, and solicits people to invest money in the company, usually when it is being formed.

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