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Forms Of Business Organization

Question

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What do you understand by a Private Company?

Solution

A private company means a company which:

(a) restricts the right of members to transfer its shares;

(b) has a minimum of 2 and a maximum of 50 members, excluding the present and past employees;

(c) does not invite public to subscribe to its share capital; and

(d) must have a minimum paid up capital of Rs.1 lakh or such higher amount which may be prescribed from time-to-time.

Some More Questions From Forms of Business Organization Chapter

What is the meaning of Partnership organization?

Can a Partnership firm have a minor partner ?

Define partnership deed.

What do you understand by co-operative society?

Define company.

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What do you understand by a Public Company?

Under what circumstances, is a partnership form of business organisation suitable ?

Write a short note on 'implied agency', one of the important characteristics of partnership and also true test of partnership.

Would you say that the sole proprietorship involves a lengthy and expensive procedure for its registration?

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