Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Accounting for Shares

Question:
'Members may come and go but the ................continues.'
Options:
Partnership
Hindu Undivided Family
Company
None of these
Correct Answer:
Company
Explanation:
The company is an artificial person created by law continues to exist irrespective of the changes in its membership. A company can be terminated only through law. The death or insanity or insolvency of any member of the company in no way affects the existence of the company. Members may come and go but the company continues.