Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 19 - No. 40)

Which of the following are characteristics of a limited company?

Separate legal entity

Unlimited liability of shareholders

Perpetual succession

Easy transfer of shares

Explanation

A limited company has its own legal identity, and continues to exist even if the owners change. It often has easy transfer of shares, but is not always true.

Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 19 - No. 40)

Explanation

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