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      Question

      The Companies Act, 1956, defines a "Company"

      as:
      A An association of persons with legal entity status formed for profit Correct Answer Incorrect Answer
      B Any association of persons formed for any lawful purpose Correct Answer Incorrect Answer
      C A body corporate incorporated under this Act or any previous company law Correct Answer Incorrect Answer
      D A private association registered with the Registrar of Companies Correct Answer Incorrect Answer
      E Any partnership firm with more than 10 member Correct Answer Incorrect Answer

      Solution

      Section 2(5) of the Companies Act, 1956, defines a company as "any company incorporated under this Act or any previous company law in force in India." It must be incorporated (registered) to gain legal entity status and separate personality from its members.

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