i.Artificial person
ii.Incorporated association
iii.Perpetual succession
iv.Common seal
v.Limited liability
-Name of the company:
The name of the State in which the registered office of the company is to be
The objects for which the company is proposed to be incorporated and any
matter considered necessary in furtherance there of.
– Liability of members:
The liability of members of the company, whether limited or unlimited, has to be
-Share Capital:
A company having a share capital, shall have to mention the followings
-Nominee of One Person Company:
Consignment: Consignment means the transaction of sending goods by one person to another, who is to sell those goods, on behalf of the first person.
(b) a consignor is a Person or firm (usually the seller) who delivers a consignment to a carrier for transporting it to a consignee (usually the buyer) named in the transportation documents
(c) c.consignee: this is A party (usually a buyer) named by the consignor (usually a seller)
in transportation documents as the party to whose order a consignment will be delivered at
the port of destination. The consignee is considered to be the owner of the consignment for the
purpose of filing the customs declaration, and for paying duties and taxes.
(d) commission del credere is a Fee received by a sales agent from a principal for guaranteeing the payment of goods sold.
(e) A profoma invoice is An abridged or estimated invoice sent by a seller to a buyer in
advance of a shipment or delivery of goods.
fixed asset is An asset that is not consumed or sold during the normal course of business, such as land,
buildings, equipment, machinery, vehicles, leasehold improvements, and other such items.
Fixed assets enable their to carry on its operations
current asset is An asset such as receivables, inventory, work in process, or cash, that is constantly
flowing in and out of an organization in the normal course of its business, as cash is converted into goods
and then back into cash. And this asset is normally in use for less than 1year. Eg9ash,short term investment
long term liability Obligation payable in goods or services at a future period more than 12 months away from
today or the date of balance sheet. Eg. Long term loans,bonds payable
current liabilities are Obligations such as deferred dividend, trade credit, and unpaid taxes, arising in the normal
course of a business and due for payment within a year. Also called current debt. Eg. Account payable,bank loans.
Intangible assets are the long-term resources of an entity, but have no physical existence.
They derive their value from intellectual or legal
rights, and from the value they add to the other assets.
E.g Marketing-related intangible assets,Trademarks,Newspaper