Answer in one sentence. 3) What is the meaning of Joint stock Company?
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A company whose stock is owned jointly by the shareholders is called as joint stock company.
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A joint stock company has an association with various persons. It has the merits of huge capital because different member invests a large amount of capital. When there is a lack of capital in a joint stock company it can issue the shares to the public. Hence, huge capital can be collected when shares are issued.
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