State whether the following statements are True or False.

1) A joint stock company is voluntary association of persons.
Ans:- True

2) A joint stock company is a formal form of business organization.
Ans:- True

3) Registration of Joint Stock Company is compulsory.
Ans:- True

4) A Joint Stock Company is a natural person.
Ans:- False

5) A Joint Stock Company does not enjoy independent legal status.
Ans:-  False

6) The liability of shareholder of public limited company is limited.
Ans:- True

7) A joint stock company has long and stable life.
Ans:- True

8) There is no separation of ownership and management in Joint Stock Company.
Ans:- False

9) Board of Directors manage the Company.
Ans:- True