• 1 Marks

BCL – L1 – SA – Q77 – Alternative Forms

Definition of a company as a voluntary association.

is a voluntary association of persons formed to carry on some business for profit or to promote art, science, education or some charitable purpose.

A   Incorporation

B   Private company

C   Company

D   Public company

C

Explanation:
The correct answer is C because a company is a voluntary association formed for business (profit) or non-profit purposes like art or charity. Incorporation (A) is the process of forming a company, while private (B) and public (D) companies are specific types, not the general definition.

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