Merits and Limitations of Joint Stock Company

Q.

Registration of partnership firms is not compulsory but beneficial. Do you agree? Give three reasons in support of your answer.

Q.

Is the below-mentioned statement correct or incorrect?
If all the members die, will the company still continue?

1. Correct

2. Incorrect

Q.

Why is the freedom of operation restricted in a joint stock company?

1. The management is very slow and does not work. Hence there is a restriction of operations.

2. The documents given by the management are wrong hence they need to get them right.

3. The company is burdened with numerous restrictions in respect of aspects including audit, voting, filing of reports and preparation of documents and is required to obtain certificates.

4. None of the above.

Q. Partnership is governed by Partnership Act, $1932$. Whereas a Company is governed by __________.

1. The Companies Act, $2013$
2. The Companies Act, $1958$
3. The Companies Act, $2017$
4. The Companies Act, $1975$