Explain the following terms/concept : Unlimited Liability company

Explain the following terms/concept : Unlimited Liability company
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Explain the following terms/concept : Unlimited Liability company
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What is an Unlimited Liability company?

Description : What is an Unlimited Liability company?

Last Answer : What is an Unlimited Liability company?

(i) The liability of shareholders of the company is unlimited.

Description : (i) The liability of shareholders of the company is unlimited.

Last Answer : Correct the underlined word and rewrite the following sentences : (i) The liability of ... dormant company is opposite to a Holding company.

SHCIL was established in 1986 under the Government of India as __________ A. Private Ltd B. Public Ltd C. Limited Liability Partnership D. Unlimited company E. None of the Above

Description : SHCIL was established in 1986 under the Government of India as __________ A. Private Ltd B. Public Ltd C. Limited Liability Partnership D. Unlimited company E. None of the Above

Last Answer : B. Public Ltd Explanation: Stock Holding Corporation of India Limited(SHCIL) was established in 1986 under the Government of India as public limited company.

The liability of members if company is limited by shares A. Unpaid value of shares B. Guarantee amount C. Unlimited liability D. None of the above

Description : The liability of members if company is limited by shares A. Unpaid value of shares B. Guarantee amount C. Unlimited liability D. None of the above

Last Answer : B. Guarantee amount

The liability of members if company is limited by guarantee. A. Unpaid value of shares B. Guarantee amount C. Unlimited liability D. None of the above

Description : The liability of members if company is limited by guarantee. A. Unpaid value of shares B. Guarantee amount C. Unlimited liability D. None of the above

Last Answer : A. Unpaid value of shares

A LLP is a new form of legal business entity with unlimited liability.

Description : A LLP is a new form of legal business entity with unlimited liability.

Last Answer : FALSE

A LLP is a new form of legal business entity with unlimited liability.

Description : A LLP is a new form of legal business entity with unlimited liability.

Last Answer : FALSE

Explain the following terms/concept : Subsidiary company

Description : Explain the following terms/concept : Subsidiary company

Last Answer : Explain the following terms/concept : Subsidiary company

Explain the following terms/concept : Company Limited by shares

Description : Explain the following terms/concept : Company Limited by shares

Last Answer : Explain the following terms/concept : Company Limited by shares

Explain the following terms/concept : Statutory company

Description : Explain the following terms/concept : Statutory company

Last Answer : Explain the following terms/concept : Statutory company

Explain the following terms/concept : Public company

Description : Explain the following terms/concept : Public company

Last Answer : Explain the following terms/concept : Public company

Explain the following terms/concept : Small company

Description : Explain the following terms/concept : Small company

Last Answer : Explain the following terms/concept : Small company

Which company offers the cheapest unlimited cell phone service?

Description : Which company offers the cheapest unlimited cell phone service?

Last Answer : The cheapest cell phone service for unlimited calling would be Cricket which is $25 a month for talk, text and caller ID. That is the cheapest plan out there for unlimited cell phone service. The thing ... of is that the cheapest service does not mean the best. Generally you get what you pay for.

Which cell phone company has the cheapest unlimited plan?

Description : Which cell phone company has the cheapest unlimited plan?

Last Answer : Currently T-Mobile has the cheapest unlimited plan. You can get an unlimited text, data, and voice plan for $99

Which of these must hold a Statutory Meeting ? (A) Public Limited Company (B) Private Company (C) Unlimited Company (D) All of these

Description : Which of these must hold a Statutory Meeting ? (A) Public Limited Company (B) Private Company (C) Unlimited Company (D) All of these

Last Answer : Answer: Public Limited Company

Which of the following companies do not have the obligation to get its Articles of Association registered along with the Memorandum of Association ? (A) Public Company limited by shares (B) Unlimited companies (C) Private companies limited by shares (D) Companies limited by guarantee

Description : Which of the following companies do not have the obligation to get its Articles of Association registered along with the Memorandum of Association ? (A) Public Company limited by shares (B) Unlimited companies (C) Private companies limited by shares (D) Companies limited by guarantee

Last Answer : Answer: Public Company limited by shares

Maximum number of members in public limited company is ---------------. A. 10 B. 20 C. 50 D. unlimited

Description : Maximum number of members in public limited company is ---------------. A. 10 B. 20 C. 50 D. unlimited

Last Answer : D. unlimited

Reserve bank of India is a/an _______. A. statutory corporation. B. company limited by guarantee. C. company limited by shares. D. unlimited company.

Description : Reserve bank of India is a/an _______. A. statutory corporation. B. company limited by guarantee. C. company limited by shares. D. unlimited company.

Last Answer : A. statutory corporation.

what is a A rate liability company

Description : what is a A rate liability company

Last Answer : You can search using AM Best's web site: http://www3.ambest.com/ratings/entities/search.aspx

Limited Liability Company Worksheet?

Description : Limited Liability Company Worksheet?

Last Answer : Get StartedThere are several types of business entities which can be formed. It is recommended that you read Operating Agreement. This document is similar to a partnership agreement, because it ... not be actively managing the LLC. Consult an attorney or other advisor for further information.

What is the benefit of forming a Limited Liability Company, and how would I start the process?

Description : What is the benefit of forming a Limited Liability Company, and how would I start the process?

Last Answer : The main benefit of a Limited liability company is that the owners of the LLC, called "members," are protected from some or all liability for acts and debts of the LLC depending on state shield laws. You would start the process by contacting an attorney.

What are the advantages of being a limited liability company?

Description : What are the advantages of being a limited liability company?

Last Answer : A limited liability company, or LLC, is its own entity and can possess assets, property, and liability. This allows you shield your personal assets from the assets of the limited liability company.

Will a liability release form keep me from getting sued if an employee gets hurt driving the company car?

Description : Will a liability release form keep me from getting sued if an employee gets hurt driving the company car?

Last Answer : There is no need to have your employees sign a liability release form. All you have to do is check with your insurance company to make sure you are covered with liability insurance.

What are the local laws for starting my own limited liability company?

Description : What are the local laws for starting my own limited liability company?

Last Answer : You can find the laws for starting your own limited liability company by visiting your state's government website and searching for laws and regulations under the business category. You can also go to ... .com and they will help you fill out the proper paperwork for the creation of your company.

Why should you make your small business a limited liability company?

Description : Why should you make your small business a limited liability company?

Last Answer : The move to a limited liability company completely depends on the type of small business they own. For most small businesses, turning into a limited liability business is worthwhile.

Benefits of a Limited Liability Company?

Description : Benefits of a Limited Liability Company?

Last Answer : Business owners shoulder the burdens of costs and taxes. The U.S. tax code is millions of words long. Figuring out which parts of the code apply or do not apply is a herculean task. Small ... a limited liability company or LLC. Under the protection of an LLC, business owners are not personally l

Limited Liability Company; A Viable Alternative?

Description : Limited Liability Company; A Viable Alternative?

Last Answer : A limited liability company, otherwise known as an LLC, is a kind of business that is best described as a hybrid of corporate structure and a lower liability partnership. Limited liability does ... can avoid certain forms of income tax and legal attacks. Limited liability companies, for most inte

Liability of a Company Secretary is– (A) Contractual only (B) Statutory only (C) Civil only (D) Both contractual and statutory

Description : Liability of a Company Secretary is– (A) Contractual only (B) Statutory only (C) Civil only (D) Both contractual and statutory

Last Answer : Answer: Both contractual and statutory

Which one of the following statements about preparation of financial statements of a limited liability company is correct ? (A) Financial statements should be prepared according to the cash basis of accounting only (B) Financial statements should be prepared according to the accrual basis of accounting only (C) Financial statements should be prepared according to either the cash basis or accrual basis of accounting (D) Financial statements should be prepared according to both the accrual and cash basis of accounting

Description : Which one of the following statements about preparation of financial statements of a limited liability company is correct ? (A) Financial statements should be prepared according to the cash basis ... Financial statements should be prepared according to both the accrual and cash basis of accounting

Last Answer : Answer: Financial statements should be prepared according to the accrual basis of accounting only

The liability of the shareholders of a public limited company is limited to the extent of– (A) Par value of the share (B) Paid up value of the shares (C) Market price of the shares (D) Intrinsic value of the shares

Description : The liability of the shareholders of a public limited company is limited to the extent of– (A) Par value of the share (B) Paid up value of the shares (C) Market price of the shares (D) Intrinsic value of the shares

Last Answer : Answer: Paid up value of the shares

A principal purpose of a letter of representation from management is to a. Remind management of its primary responsibility for financial statements. b. Serve as an introduction to company personnel and an authorization to examine the records. c. Discharge the auditor from legal liability for his examination. d. Confirm in writing management's approval of limitations on the scope of the audit

Description : A principal purpose of a letter of representation from management is to a. Remind management of its primary responsibility for financial statements. b. Serve as an introduction to company personnel and ... . d. Confirm in writing management's approval of limitations on the scope of the audit

Last Answer : Remind management of its primary responsibility for financial statements.

A principal purpose of a letter of representation from management is to a. Serve as an introduction to company personnel and an authorization to examine the records. b. Discharge the auditor from legal liability for his examination. c. Confirm in writing management's approval of limitations on the scope of the audit. d. Remind management of its primary responsibility for financial statements.

Description : A principal purpose of a letter of representation from management is to a. Serve as an introduction to company personnel and an authorization to examine the records. b. Discharge the auditor ... the scope of the audit. d. Remind management of its primary responsibility for financial statements.

Last Answer : Remind management of its primary responsibility for financial statements.

When the purchasing company does not take over a particular liability and the vendor company pays that liability, it will debit it to______ (A) Realisation Account (B) Bank Account (D) Liability Account (D) Creditors Account

Description : When the purchasing company does not take over a particular liability and the vendor company pays that liability, it will debit it to______ (A) Realisation Account (B) Bank Account (D) Liability Account (D) Creditors Account

Last Answer : (A) Realisation Account

Assertion (A) :The liability of share holders in a private limited company is limited to the amount. Reason (R) :The number of share holders of a private limited company is limited to fifty. A. Both A and R are true and R is the correct explanation of A B. Both A and R are true but R is not a correct explanation of A C. A is true but R is false D. A is false but R is true

Description : Assertion (A) :The liability of share holders in a private limited company is limited to the amount. Reason (R) :The number of share holders of a private limited company is limited to fifty. A. Both A and R are ... correct explanation of A C. A is true but R is false D. A is false but R is true

Last Answer : D. A is false but R is true

When the purchasing company does not take over a particular liability and the vendor company pays that liability, it will debit it to (A) Realisation Account (B) Bank Account (C) Liability Account (D)None of the above

Description : When the purchasing company does not take over a particular liability and the vendor company pays that liability, it will debit it to (A) Realisation Account (B) Bank Account (C) Liability Account (D)None of the above

Last Answer : (A) Realisation Account

If the current assets and working capital of a company are rs.80,000 and rs.50000 then current liability will be------------- a) Rs.1,00,000 b) Rs.1,30,000 c) Rs.70000 d) Rs.30000

Description : If the current assets and working capital of a company are rs.80,000 and rs.50000 then current liability will be------------- a) Rs.1,00,000 b) Rs.1,30,000 c) Rs.70000 d) Rs.30000

Last Answer : d) Rs.30000

Explain the following Terms/Concept : Covenants of the Article

Description : Explain the following Terms/Concept : Covenants of the Article

Last Answer : Explain the following Terms/Concept : Covenants of the Article

Explain the following Terms/Concept : Bonus Issue

Description : Explain the following Terms/Concept : Bonus Issue

Last Answer : Explain the following Terms/Concept : Bonus Issue

Explain the following Terms/Concept : Right Issue

Description : Explain the following Terms/Concept : Right Issue

Last Answer : Explain the following Terms/Concept : Right Issue

Explain the following Terms/Concept : Dividend

Description : Explain the following Terms/Concept : Dividend

Last Answer : Explain the following Terms/Concept : Dividend

Explain the following Terms/Concept : Class Action Suit

Description : Explain the following Terms/Concept : Class Action Suit

Last Answer : Explain the following Terms/Concept : Class Action Suit

Explain the following terms/concept : Prospectus

Description : Explain the following terms/concept : Prospectus

Last Answer : Explain the following terms/concept : Prospectus

Explain the following terms/concept : Fiduciary duty

Description : Explain the following terms/concept : Fiduciary duty

Last Answer : Explain the following terms/concept : Fiduciary duty

Explain the following terms/concept : ROC

Description : Explain the following terms/concept : ROC

Last Answer : Explain the following terms/concept : ROC

Explain the following terms/concept : TAN

Description : Explain the following terms/concept : TAN

Last Answer : Explain the following terms/concept : TAN

Explain the concept of following terms : (i) Connected load (ii) Maximum demand

Last Answer : 1. Connected Load: It is the sum of load of all equipment's connected to supply system which are in use or not in use of each consumer. OR   The sum of connected load of all consumers ... is the maximum load which a consumer uses at a particular time period out of his total connected load. 

How does covalent bond form in terms of orbital overlap concept?

Description : How does covalent bond form in terms of orbital overlap concept?

Last Answer : Ans. When two half filled orbitals overlap ,covalent bond forms .

Which of the following statements is incorrect about materiality? a. The concept of materiality recognizes that some matters are important for fair presentation of financial statements in conformity with GAAP, while other matters are not important. b. An auditor considers materiality for planning purposes in terms of the largest aggregate level of misstatements that could be material to any one of the financial statements. c. Materiality judgments are made in light of surrounding circumstances and necessarily involve both quantitative and qualitative judgments. d. An auditor’s consideration of materiality is influenced by the auditor’s perception of the needs of a reasonable person who will rely on the financial statements

Description : Which of the following statements is incorrect about materiality? a. The concept of materiality recognizes that some matters are important for fair presentation of financial statements in conformity with ... s perception of the needs of a reasonable person who will rely on the financial statements

Last Answer : An auditor considers materiality for planning purposes in terms of the largest aggregate level of misstatements that could be material to any one of the financial statements

Which of the following statements is NOT true about the concept of a customer ? 1. A customer and consumer are always the same thing - the terms are 2. completely interchangeable 3. customers can be described as clients 4. a customer doesn't necessarily consume the product that they have purchased 5. customers are satisfied clients

Description : Which of the following statements is NOT true about the concept of a customer ? 1. A customer and consumer are always the same thing - the terms are 2. completely interchangeable 3. ... customer doesn't necessarily consume the product that they have purchased 5. customers are satisfied clients

Last Answer : customers are satisfied clients

Species are considered as (a) real basic units of classification (b) the lowest units of classification (c) artificial concept of human mind which cannot be defined in absolute terms (d) real units of classification devised by taxonomists.

Description : Species are considered as (a) real basic units of classification (b) the lowest units of classification (c) artificial concept of human mind which cannot be defined in absolute terms (d) real units of classification devised by taxonomists.

Last Answer : (c) artificial concept of human mind which cannot be defined in absolute terms