Commerce · Class 11 Commerce
Ch 6Joint Stock Company — Class 11 Commerce, concept-first.
A joint stock company is one of the most important forms of business organisation in the modern economy, especially where a business needs very large amounts of capital that a single owner or a small group of partners cannot supply on their own.
Key concepts
Hover a concept to preview it and jump to its most relevant Q&A.
Types of Companies
The syllabus's nine categories split into two groups: HOW a company came to exist (Chartered — by royal charter, obsolete today; Statutory — by a special Act, e.g.
Most relevant Q&A
- Under the Companies Act, 2013, the minimum number of members required to form a private company is: (a) 1 (b) 2 (c) 3 (d) 7Free
- A One Person Company (OPC), as defined under Section 2(62) of the Companies Act, 2013, can have a maximum of how many members? (a) 1 (b) 2 (…Free
- What is a One Person Company (OPC)?Free
- What is meant by chartered company ?Preview
- (a) What is meant by Holding and Subsidiary Company ? OR (b) Write short notes on : (i) Retained Earnings (ii) Lease FinancingPreview
Chapter contents
The NCERT structure, section by section. Open a section to see its questions, then read the concept-first solution.
Meaning and Definition of a Joint Stock Company
A joint stock company is one of the most important forms of business organisation in the modern economy, especially where a business needs very large amounts of capital that a single owner or a small…
Features of a Joint Stock Company
A joint stock company can be recognised by a distinct bundle of legal features that, taken together, separate it sharply from a sole proprietorship or a partnership firm.
Types of Companies
The Companies Act, 2013 recognises several types of companies, classified mainly on the basis of the number and nature of their members and on ownership.
Formation of a Company
Forming a joint stock company is a longer and more formal process than starting a sole proprietorship or a partnership, because a company only comes into being through registration under the Companies…
Memorandum of Association
The Memorandum of Association (MOA) is often described as the "charter" of a company. It is the foundational document that has to be filed with the Registrar of Companies at the time of incorporation,…
Articles of Association
The Articles of Association (AOA) are the internal rule-book of the company. Where the Memorandum of Association defines what the company may do and how it relates to the outside world, the Articles l…
Merits of a Joint Stock Company
The joint stock company form of organisation has become the dominant vehicle for large-scale business precisely because of the following advantages it offers over a sole proprietorship or a partnershi…
Limitations of a Joint Stock Company
Despite its considerable advantages, the joint stock company form also suffers from certain genuine limitations, which is why it is not automatically the best choice for every kind of business.
Sample & Board Papers
Sample papers and previous-year board questions for this subject.
+−Show 9 questionsHide questions9 questions
- Q1Table A of the Companies Act is a ________. (a) Model minutes book (b) Model form of Balance Sheet (c) Model of Articles of Association (d)…Preview
- Q2What is meant by chartered company ?Preview
- Q3(a) What is meant by Holding and Subsidiary Company ? OR (b) Write short notes on : (i) Retained Earnings (ii) Lease FinancingPreview
- Q4Table A of the Companies Act is a ________. (a) Model of AOA (b) Model minutes book (c) Model of MOA (d) Model form of balance sheetPreview
- Q5Write about foreign companies.Preview
- Q6(a) (i) What is Articles of Association? (ii) Write any five contents of Articles of Association. OR (b) Explain any five advantages of Inte…Preview
- Q7The Board of Directors of a Company is elected by ______. (a) Debenture holders (b) Creditors (c) Shareholders (members) (d) DebtorsPreview
- Q8The relationship between outsiders and the Company is defined in ______. (a) Memorandum of Association (b) Prospectus (c) Certificate of Inc…Preview
- Q9Mention any two characteristics of a company.Preview
More questions
12 Q+−Show 4 questionsHide questions4 questions
- Q1Under the Companies Act, 2013, the minimum number of members required to form a private company is: (a) 1 (b) 2 (c) 3 (d) 7Free
- Q2A One Person Company (OPC), as defined under Section 2(62) of the Companies Act, 2013, can have a maximum of how many members? (a) 1 (b) 2 (…Free
- Q3Which of the following documents defines the relationship between a company and outsiders, and states the scope of its lawful activities? (a…Preview
- Q4Which feature of a joint stock company means that the death, insolvency, or retirement of a member does not affect the company's continued e…Preview
+−Show 4 questionsHide questions4 questions
+−Show 4 questionsHide questions4 questions
- Q9Explain the features of a Joint Stock Company.Free
- Q10Distinguish between Memorandum of Association and Articles of Association.Free
- Q11Explain the stages involved in the formation of a joint stock company.Preview
- Q12Discuss the merits and limitations of a joint stock company as a form of business organisation.Preview