Back to Course

SS1: ECONOMICS - 2ND TERM

0% Complete
0/0 Steps
  1. Firms & Industry | Week 1
    4 Topics
  2. Firms & Industry (Business Organisation) | Week 2
    5 Topics
    |
    1 Quiz
  3. Population Theory I | Week 3
    3 Topics
  4. Population Theory II | Week 4
    3 Topics
  5. Population | Week 5
    3 Topics
  6. Population Distribution | Week 6
    4 Topics
  7. Population Census | Week 7
    3 Topics
    |
    1 Quiz
  8. Labour Market | Week 8
    3 Topics
    |
    1 Quiz
  9. The Nature of the Nigerian Economy | Week 9
    4 Topics
    |
    1 Quiz
  10. Agriculture | Week 10
    4 Topics
    |
    1 Quiz



  • Follow us

Lesson Progress
0% Complete

Definition of a Company:

A company is an association of individuals who agree and jointly pull their resources or capital together in order to establish and run a business with a view to making a profit.

Definition of a Limited Liability Company:

These are companies in which the liabilities of the members are only limited to the amount they contributed. (Joint Stock Company). A limited liability company is owned by the shareholders.

A Joint Stock Company is an organisation which has a separate legal entity (incorporated), it is formed to carry out business operations in the interest of shareholders. It can sue and be sued.

There are two types of Limited Liability Companies, the Private Limited Liability Company, and the Public Limited Liability Company.

Responses

Your email address will not be published. Required fields are marked *

error: