yogita is a chartered accounted. she runs her firm from laxmi nagar, delhi. after running her firm for four years , she feels that she should get her business registered in a way that she can reduce herself from the fear of unlimited liability. but at the same time she does not want anyone else to be part of decision making in her business. (a) name the form of business organization to be form by yogita. (b) state any two features of the form of business organization.
Answers
a) The form of Business Organization to be form by Yogita is Sole Proprietary form of organisation
b) Two features:-
1) Single Ownership
2) No separate entity
Answer:
Answer described below:
Explanation:
As per above case, Yogita want to registered her business but do not want to collaboration with some other and want limited liabilities. In this way, Yogita want to establish One Person Company.
As per The Companies Act. 2013 under section 2 (62), A company which has only one person as a member it is called One Person Company.
One person company is a company incorporated as a private company which has only one member. The introduction of OPC (One Person Company) was to encourage corporation of micro business and entrepreneurship.
One person Company avails all the benefits of a private limited company, such as separate legal entity, protecting personal assets from business liability and perpetual succession.
The feature of One Person Company:
1. No person shall be eligible to incorporate more than one OPC or become nominee in more than one such company.
2. One Person Company cannot be registered or converted into a company under Section 8 of the Company Act, 2013.
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