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P2 C1 ACCOUNTING FOR SHERE CAPITAL — Elements of Account STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceElements of AccountP2 C1 ACCOUNTING FOR SHERE CAPITAL1 Mark
Question
What is company limited by guarantee?
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Answer

Companies which are established, not for the purpose of earning profit but it is formed for the purpose of promoting different activities like arts, science, sports, culture, social welfare etc. e.g. $BCCI.$

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