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Question
Explain the following term/concept.
Promoters
Explain
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Solution
- In precise terms, a group of persons who take the lead in forming a company and complete all the preliminary work necessary for its establishment are called promoters.
- They are regarded as the founders of the company. Promoters discover business opportunities and put them into action.
- They complete all the formalities required to start a business and also arrange finance through various sources.
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Stages in the Formation of a Company - Promotion
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