Question

1. Define company. Explain in brief its characteristics.​

Answer 1

A company is a legal entity formed by a group of individuals to engage in and operate a business—commercial or industrial—enterprise. ... They can also be distinguished between private and public companies. Both have different ownership structures, regulations, and financial reporting requirements.

The important characteristics of a company are as follows:-

1. Registration

2. Legal Entity

3. Perpetual Succession

4. Transferability of Shares

5. Limited Liability of Members

6. Capital

7. Common Seal

8. Board

9. Buy-Back of Shares

10. Separation of Ownership and Management

11. Management and Control

12. Taxation

13. Incorporated Association of Persons

14. Risk-Bearing

15. Articles of Regulations

16. Prescribed Mode of Winding Up...✌✌

Answer 2

Answer:

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Explanation:

A company is a voluntary association of persons, recognised by law, having a distinctive name, a common seal, formed to carry on business for profit, with capital divisible into transferable shares, limited liability, a corporate body and perpetual succession