Question

1. State the 2 merits of joint stock company.

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Answer 1

Joint Stock Company

The simplest way to describe a joint stock company is that it is a business organisation that is owned jointly by all its shareholders. All the shareholders own a certain amount of stock in the company, which is represented by their shares.

Professor Haney defines it as “a voluntary association of persons for profit, having the capital divided into some transferable shares, and the ownership of such shares is the condition of membership of the company.” Studying the features of a joint stock company will clarify its structure.

Answer 2

Answer:

1.Limited liability has gone a long way in popularizing the company form of organisation all over the world.

2. Large financial resources

Explanation:

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