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Company Accounts - I
What is a Joint Stock Company?
Association of persons contributing money to common stock, created by law for common purpose.
Why must bankers understand Company Accounts?
Lending decisions, KYC, working capital limits depend on capital structure and shareholding pattern.
Define artificial person in company context.
Company created by law, distinct from members; can contract, sue, be sued independently.
What is perpetual succession?
Company existence unaffected by member death, insolvency, or insanity.
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