Home | | Accountancy 12th Std | Meaning and definition of a company

Company Accounts | Accountancy - Meaning and definition of a company | 12th Accountancy : Chapter 7 : Company Accounts

Chapter: 12th Accountancy : Chapter 7 : Company Accounts

Meaning and definition of a company

Company is a voluntary association of persons which has separate legal entity. It has perpetual succession and the liability of the members is limited.

Meaning and definition of a company

Company is a voluntary association of persons which has separate legal entity. It has perpetual succession and the liability of the members is limited.

According to Lord Justice Lindley, “A company is an association of many persons who contribute money or money’s worth to a common stock and employ it in some trade or business and who share the profit and loss arising there from. The common stock so contributed is denoted in money and is the capital of the company. The persons who contributed in it or form it, or to whom it belongs, are members. The proportion of capital to which each member is entitled is his share”.

Tags : Company Accounts | Accountancy , 12th Accountancy : Chapter 7 : Company Accounts
Study Material, Lecturing Notes, Assignment, Reference, Wiki description explanation, brief detail
12th Accountancy : Chapter 7 : Company Accounts : Meaning and definition of a company | Company Accounts | Accountancy


Privacy Policy, Terms and Conditions, DMCA Policy and Compliant

Copyright © 2018-2023 BrainKart.com; All Rights Reserved. Developed by Therithal info, Chennai.