Correct the underlined word and rewrite the following sentences
1) In public company, shares are not freely transferable.
Ans. In Private Company, shares are not freely transferable.
2) In Private Company, there are minimum 3 (three) directors.
Ans. In Private company, there are minimum 2 (Two) directors.
3) Registration of Joint Stock Company is not compulsory.
Ans. Registration of Joint Stock Company is compulsory.
4) There is less secrecy In Sole Trading concern.
Ans: There is maximum secrecy in Sole Trading concern.
5) In Partnership firm, minimum three members are required.
Ans: in partnership firm, minimum Two members are required.
6) In Joint Hindu Family business, the senior most member of family is called as Co-parcener.
Ans: in Joint Hindu Family business, the senior most member of family is called as Karta
7) Indian Partnership Act, 1940 is applicable In India.
Ans: Indian Partnership Act, 1932 is applicable in India.