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Business Studies

Merits and Limitations of Joint Stock Company

A business or...

Question

A business organisation which has a separate legal status is a _____.

A

Non-profit Association

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B

Joint Stock Company

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C

Co-operative society

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D

None of these

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Solution

The correct option is C Joint Stock Company
A joint stock company has an independent status i.e. it has a separate legal entity from its members. It has an independent existence in the eyes of law and can also purchase and sell property in its own name.

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Similar questions

Q. A company has separate legal status.

Q. Fill in the blanks and rewrite the sentence:
The organisation which enjoys a separate legal status is a ___________.

Q. The business organisation which enjoys a separate legal existence is a___________.

Q. State with reasons whether the following statements are true or false.
1. There is no limit for membership in Joint Hindu family Business.
2. The liability of a Karta in a Joint Hindu family firm is limited.
3. The maximum number of members in a Joint Hindu family is 20.
4. Company form of organization has developed before industrial revolution.
5. A joint stock company can raise huge capital.
6. Share holders can manage the business.
7. The ownership and management are not separate in Joint stock company.
8. The main purpose of a co-operative organization is to earn profit.
9. The membership of a co-operative society is voluntary.
10. Co-operative society differs from other forms of commercial organizations.
11. Maximization of profit is the main motto of co-operative society.
12. In partnership agreement may be oral or written.
13. In a partnership the liability of every partner of a firm is unlimited.
14. The owner of the sole proprietorship is the sole decision maker of his business.
15. Sole Proprietorship is useful for small business.
16. A sole trading concern is easiest to form.

Q. A Joint Stock Company is superior form of business organisation.

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