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Entrepreneurial Planning — Entrepreneurship STD 12 Commerce — Question

CBSE BoardEnglish MediumSTD 12 CommerceEntrepreneurshipEntrepreneurial Planning3 Marks
Question
What is a Company?
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Answer

As per Indian Companies Act, 195 "A company means a company formed and registered under the act or any previous Act".
As per Prof. L.H. Haney A Joint Stock Company is a voluntary association of individuals for profit, having a capital divided into transferable shares, the ownership of which is the condition of membership. Company is created by law and put to death by law only. Here, associated persons contribute money in the form of shares. It is a legal entity and enjoy permanent existence.

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