Here students can locate TS Inter 1st Year Commerce Notes Chapter 5 Joint Stock Company to prepare for their exam.
TS Inter 1st Year Commerce Notes Chapter 5 Joint Stock Company
→ The Company form of organisation has emerged due to the limitations of sole trading and partnership business.
→ Company form of organisation is chosen whenever large-scale production or trading activity is taken up.
→ In India, the formation and management of Joint Stock Companies are Governed by the Companies Act, of 2013.
→ Limited liability, perpetual existence, transfer of shares, and separate legal entity are some of the characteristics of companies.
→ Large financial resources, limited liability, transfer of shares, and perpetual succession are some of the merits of the company.
→ Difficulty in formation, fraudulent management, control by few, and excess government control are some of the limitations of a company.
→ Chartered Companies, Statutory Companies, Government Companies, and Private and Public Companies are some types of companies.