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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › trading certificate
if company trades before the certificate is issued the directors are personally liable if the company defaults within 21 days of due date
mike in this statement company defaults within 21 days of due date means please explain this statement
A supplier to the public company, after incorporation but before the company has been given its trading certificate, has now asked for payment. The company doesn’t pay within 21 days so the supplier can hold the directors personally responsible
thanks mike
You’re welcome