InterviewSolution
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InterviewSolution
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Name and define the form of business organization in which the liability of its members is limited. State one more feature of this form of business organization. |
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Answer» (i)Joint Stock Company. (ii) It is an association of persons who contribute money in the shape of shares and the company gets a legal entity and enjoys a permanent existence. (iii) It has the following features voluntary association; artificial person; separate legal entity; common seal; limited liability; transfer ability of shares; diffusion of ownership and management; number of members; limitation of action; winding up. |
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