Questions

Joint stock company is a voluntary association of individuals for profit, having a capital divided into transferable shares, the ownership of which is the condition of membership.

The definition of a joint stock company highlights the following features of a company.

Separate legal entity:From the day of its incorporation, a company acquires an identity, distinct from its members. Its assets and liabilities are separate from those of its owners. The law does not recognise the business and owners to be one and the same.

The management and control of the affairs of the company is undertaken by the Board of Directors, which appoints the top management officials for running the business. The directors hold a position of immense significance as they are directly accountable to the shareholders for the working of the company. The shareholders, however, do not have the right to be involved in the day-to-day running of the business. The liability of the members is limited to the extent of the capital contributed by them in a company

The risk of losses in a company is borne by all the shareholders. This is unlike the case of sole proprietorship or partnership firm where one or few persons respectively bear the losses.

The Eastern Ghats are a discontinuous range of mountains along India's eastern coast whereas Western Ghats also known as Sahyadri is a mountain range that runs parallel to the western coast of the Indian peninsula.

Eastern ghats and Western ghats meet at the Nilgiri hills in Tamilnadu.

A fool’s errand means a task that has little to no chance of being successful or beneficial.

FFC stands for Film Finance Corporation.

FFC, is India’s state funding body for films. The 1927 Indian Cinematograph Committee recommended such a state-sponsored agency in its Report of the Indian Cinematograph Committee.

The primary goal of the FFC is to plan, promote and organize an integrated and efficient development of the Indian film industry and foster excellence in cinema.

Cricket - My Style is written by Kapil Dev.