Joint Stock Company
ICSE · Class 11 · Commerce
Flashcards for Joint Stock Company — ICSE Class 11 Commerce. Quick Q&A cards covering key concepts, definitions, and formulas.
Interactive on Super Tutor
Studying Joint Stock Company? Get the full interactive chapter.
Quizzes, flashcards, AI doubt-solver and a step-by-step study plan — built for flashcards and more.
1,000+ Class 11 students started this chapter today
What is a joint stock company?
Answer
A joint stock company is an artificial person created by law. It has a separate legal entity, perpetual succession, a common seal, and usually limited liability. Its capital is divided into shares.
Why was the joint stock company form of business needed?
Answer
It developed to overcome the weaknesses of sole proprietorship and partnership, such as shortage of capital, unlimited liability, lack of managerial ability, and lack of stability. It is especially us…
State the definition of a company given by L.H. Haney.
Answer
A company is an artificial person created by law having a separate entity with a perpetual succession and a common seal. This definition highlights the legal and separate existence of the company.
State the definition of a company given by James Stephenson.
Answer
A company is an association of many persons who contribute money or money's worth to common stock and employ it in some trade or business and who share the profits and loss arising therefrom. It shows…
State the definition of a company given by Lord Lindley.
Answer
A company is an association of many persons who contribute money's worth to a common stock and employ it for a common purpose. The stress is on common contribution and common purpose.
What definition of a corporation is given by Chief Justice Marshall?
Answer
A corporation is an artificial person being invisible intangible and existing only in contemplation of the law. It explains that a company is a legal creation, not a natural person.
What does Justice James say a company is?
Answer
A company means an association of persons united for a common object. The definition is simple and focuses on unity of purpose.
What is the statutory definition of a company under the Indian Companies Act, 2013, Section 2(20)?
Answer
A company means a company incorporated under this Act or under any previous Company Law. This definition gives legal recognition to companies formed under company law.
+30 more flashcards available
Practice AllFrequently Asked Questions
What are the important topics in Joint Stock Company for ICSE Class 11 Commerce?
How to score full marks in Joint Stock Company — ICSE Class 11 Commerce?
How many flashcards are available for Joint Stock Company?
Sources & Official References
Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.
More resources for Joint Stock Company
Practice Quiz
Test yourself with a quick quiz
Important Questions
Practice with board exam-style questions
Revision Notes
Key points for last-minute revision
Formula Sheet
All formulas in one place
Chapter Summary
Understand the chapter at a glance
Concept Maps
See how topics connect visually
Study Plan
Step-by-step plan to ace this chapter
Syllabus
What topics to cover
NCERT Solutions
Every textbook question solved step by step
For serious students
Get the full Joint Stock Company chapter — for free.
Quizzes, flashcards, AI doubt-solver and a step-by-step study plan for ICSE Class 11 Commerce.