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Business Studies

Types of Partners , Partnership and Companies

Fill in the b...

Question

Fill in the blanks:
(a) A company is legally ___ from its members.
(b) Liability of every member in a company is _.
(c) Registration of a company is _.
(d) A company is managed by a _.
(e) In a private company, there must be at least members.
(f) A company has _ succession.

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Solution

(a) Separate
(b) Limited
(c) compulsory.
(d) Group of directors.
(e) 2
(f) Perpetual.

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Q. State whether the following statements are True or False:
(a) A joint stock company is separate legal entity.
(b) A company survives even if all its members die.
(c) A joint stock company is a voluntary association of persons.
(d) A joint stock company is less stable than a partnership.
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(f) There can be no conflict of interest in a joint stock company.
(g) A company is an artificial legal person.

Q. Fill in the blanks:
(a) The East India Company was a ________ company.
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(d) A does not have share capital.
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(f) A company which holds 51% more of the shares of another company is called _________.
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(a) There is no chartered company in India.
(b) LIC is a statutory company.
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(e) A private company can invite public deposits.
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(g) A subsidiary of a public company is also a public company.
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Q. Mark the following statements True or False:
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(b) A company which does not want to prepare its own Articles of Association can adopt Table A.
(c) A company wanting to raise capital must issue a prospectus.
(d) A private company can start its business immediately after incorporation.
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(g) Every company must issue a prospectus to raise share capital.

A prospectus is issued by

(a) A private company

(b) A public company seeking investment from public.

(c) A public enterprise

(d) A public company

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