Business Studies

_______ type of company is formed for promotion of art, culture, religion, sports, trade etc. and not for the purpose of earning profit.


ANSWER

Company limited by guarantee


SOLUTION
guarantee company can borrow money and may issue debentures or debenture (loan) stock. The members of the guarantee company control it, in the same way as shareholders control a share company, but they do not have any shares or other security in the company that they can sell to another.
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Single Correct Medium Published on 18th 08, 2020
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