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Joint Stock Company — Secretarial Practice STD 11 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 11 Commerce / ArtsSecretarial PracticeJoint Stock Company2 Marks
Question
Company Limited by shares
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Answer

  • Such companies have share capital.
  • The liability of every member is limited to the unpaid amount of face value of shares.
  • At the time of winding up of the company, the remaining unpaid amount can be called upon by a member.
  • Public and Private companies both may be companies limited by shares.

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