Questions

‘Instead’ is used as an alternative or substitute and is not relevant in this context. ‘Nevertheless’ will be used as it means ‘inspite of that’. Thus, the correct formation would be, ‘This scooter is not as efficient as it used to be; nevertheless it is still a very useful machine.

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 main function of input devices is to direct commands and data into computers. Computers then use their CPU to process this data and produce output.

Examples of input devices - keyboards, mouse, barcode readers, Magnetic Ink Character Readers (MICR), Optical Character Readers (OCR), touch screens, etc...