9 Account -- Company and Its Formation

What do you mean by company promoters? Write the functions of company promoters.

What do you mean by company promoters? Write the functions of company promoters.

The person or a group of persons who take necessary steps to incorporate a company are called a company promoters.

The functions of company promoters are:

1. Conceive the idea of forming a business.

2. Analyse profitability and feasibility of the idea.

3. Investigate the workability of the idea by consulting experts.

4. Decide the name and the location of the company and also the amount and form of its share capital.

5. Prepare the Memorandum of Association (MoA), Article of Association (AoA), Prospectus and other necessary documents and file them to the concerned offices for the process of incorporation or establishment.

More questions on Company and Its Formation

Close Open App