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Question
State the following statement is True or False:
The first stage in the formation of a Joint Stock Company is promotion.
State the following statement is True or False:
The first stage in the formation of a Joint Stock Company is promotion.Open in App
Solution
The correct option is A True
The first stage in the formation of company is Promotion. Promotion involves conceiving a business opportunity and taking an initiative to form a company exploiting the available business opportunity. They are personally liable for all the contracts for the company before its incorporation.
The first stage in the formation of company is Promotion. Promotion involves conceiving a business opportunity and taking an initiative to form a company exploiting the available business opportunity. They are personally liable for all the contracts for the company before its incorporation.
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