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Home > Business Administration > Question

What is meant by a company:

0
A) A government department
B) A sole trader business
C) An entity incorporated under any law.
D) A group of friends doing business

Correct Answer: C) An entity incorporated under any law.

• In strict corporate law, a company is defined as a legal Entity incorporated under any law. • A company uniquely possesses a separate legal identity completely distinct from its Shareholders. • A business owned and independently operated by one single individual is a Sole proprietorship. • The financial liability of shareholders in a public limited company is strictly Limited.

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