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प्रश्न
Answer the following question:
Define a ‘company’. Explain the types of companies on the basis of the liability of members.
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उत्तर
Definition: Prof. Haney defines Joint Stock Company in the following words, “A joint stock company is a voluntary association of individuals for profit having a capital divided into transferable shares, the ownership of which is the conditions of membership.” In simple terms, a joint stock company is a form of business organisation in which persons interested in doing some business with sole aim of earning profit form an association and get it incorporated (registered) under the Companies Act.
Types of companies on the basic of liability.
(1) Company limited by Shares: A company in which the liability of each member is limited or restricted to the extent of unpaid part of the face value of shares purchased by him is called company limited by shares. The company during its existence or in the event of insolvency or Winding up can ask its member to pay the remaining unpaid amount due on the shares held by them. In this company, liability of the directors may be unlimited. A company limited by shares may be public company or private company. Most of the companies in India 'are companies limited by shares.
(2) A company limited by Guarantee: A company in which its members give a guarantee to pay a fixed or specified sum of money in the event of its liquidation is called company limited by guarantee. Profit-making is not the aim of such companies. They are usually formed to promote activities in art, literature, sports, education. Religion or charity etc.
(3) Unlimited Liability Company: A company in which liability of members is unlimited as partners in the partnership firm, is called a company with unlimited liability In the event of insolvency of the company, creditors may recover their dues from the private property of the members/partners. This company may or may not have share capital. However, this type of company does not exist in India. I
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संबंधित प्रश्न
Match the pairs:
| Group ‘A’ | Group ‘B’ |
| a) Private company | 1) 51% share capital held by Government |
| b) Public company | 2) Bank of England |
| c) Government company | 3) Maximum 200 members |
| d) Statutory Company | 4) Minimum 7 members |
| e) Limited Liability Partnership | 5) Maximum 100 members |
| 6) Minimum 5 partners | |
| 7) 40% share capital | |
| 8) Minimum 5 members | |
| 9) Life Insurance Corporation | |
| 10) Minimum 2 partners |
Write a word or a term or a phrase which can substitute the following statement.
The owner who is the sole manager and decision maker of his business.
Write a word or a term or a phrase which can substitute the following statement.
The senior most family member of Joint Hindu Family Business.
Write a word or a term or a phrase which can substitute the following statement.
An artificial person created by law.
Write a word or a term or a phrase which can substitute the following statement.
The persons who have entered into an agreement of partnership.
Write a word or a term or a phrase which can substitute the following statement.
Name a company that is created by a special legislation of parliament or state assembly.
State whether the following statement is True or False.
A Joint Stock Company does not enjoy independent legal status.
State whether the following statement is True or False.
There is no separation of ownership and management in Joint Stock Company.
State whether the following statement is True or False.
A joint stock company has long and stable life.
State whether the following statement is True or False.
Board of Directors manage the Company.
Answer in one sentence:
How many member/s can be there in a one person company?
Answer in one sentence:
What is meant by foreign company?
Answer the following question:
State the features of sole trading concern.
State the features of a co-operative society.
Write a word or a term or a phrase which can substitute of the following statement.
The members of Joint Hindu Family Business.
The members of Joint Hindu Family Business.
Write a word or a term or a phrase which can substitute the following statement.
The members of Joint Hindu Family Business.
