Question

Select the term or a phrase which can substitute the following statement:

Name the type of company which can start it's business after getting 'Certificate of Incorporation'?

• A. Public company
  
• B. Private company
  
• C. Co-operative society
  
• D. Joint stock company
  

Answer 1

Answer: (B)

Private company

After receiving certificate of incorporation, a private company can start its business. Incorporation of a Joint stock company is compulsory. Without incorporation, all the contracts would be considered void in the eyes of law and operations of business cannot be carried out.