MyQuestionIcon

2

You visited us 2 times! Enjoying our articles? Unlock Full Access!

Recap of Accounting Process

The business ...

Question

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

A

Partnership firm

No worries! We‘ve got your back. Try BYJU‘S free classes today!

B

Joint stock company

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

C

Government organisation

No worries! We‘ve got your back. Try BYJU‘S free classes today!

D

None of these

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B 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.

Suggest Corrections

thumbs-up

0

Similar questions

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

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

Q. a) From legal point of view, a joint stock company is recognised as separate legal entity from the shareholders.
b) Partnership firms and sole trading businesses do not have legal entity, but they have business entity for accounting purposes.
Of these

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

Q. Which of the following enjoys separate legal entity status?

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Appropriation vs Charge

ACCOUNTANCY

Watch in App

explore_more_icon

Explore more

Recap of Accounting Process

Standard XII Accountancy

Join BYJU'S Learning Program

CrossIcon