Concept:A company is governed by two key documents: one defines its external purpose, and the other defines its internal working rules.
Explanation:The internal arrangement for managing a company includes rules for appointing directors, holding meetings, issuing shares, and handling financial records.
These regulations are contained in the Articles of Association.
The Memorandum of Association only states the company’s name, objectives, and capital.
The Prospectus invites the public to buy shares, and the Certificate of Incorporation proves legal existence.
Answer:B. Article of association