Question

What is a company? Explain its characteristics (5 Mark's)
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Answer 1

Answer:

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. ...

Explanation:

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Answer 2

Answer:

Here you go mate

Explanation:

A company, abbreviated as co., is a legal entity representing an association of people, whether natural, legal or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared goals

Some of the most important characteristics of a company are as follows:

1.Voluntary Association: A company is a voluntary association of two or more persons

2.Incorporation

3.Artificial Person

4.Separate Entity

5.Perpetual Existence

6.Common Seal

7.Transferability of Shares

8.Limited Liability

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