2. Which type of a person company portrayed in the book?
(A) In visible person
(B) a fictitious entity
(C) An artifical person
(D) Soulless person
Answers
Answer:
1
Explanation:
in visible person company portrayed in the book
Answer:
The correct option is (C) An artificial person
Explanation:
A company's incorporation is an artificial entity recognised by law as a legal person that exists independently with rights and liabilities. This means that a corporation is treated as a separate entity from its shareholders. It is denoted and directed by at least one director and is owned by at least one shareholder of a company.
As a result of this unique legal identity, a firm possesses perpetual succession. The death, disability, insolvency, or disagreement of a shareholder does not affect the company's life. Its existence ends when it is wound up by the Companies Acts. The liability of shareholders is restricted to the value of the shares held by them, which implies that if a company fails to meet its commitments, the owners' personal properties cannot be sold to repay business debts.
Therefore, the type of person the company portrayed is an Artificial person.
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