charges

A charge means an interest or right which a lender or creditor obtains in the property of the company by way of security that the company will pay back the debt. Charges are of 2 types :-

1. Fixed Charge :

Capital

Capital refers to the amount invested in the company so that it can carry on its activities. In a company capital refers to "share capital". The capital clause in Memorandum of Association must state the amount of capital

company and types

Introduction
The word 'Company' is an amalgamation of the Latin word 'Com' meaning "with or together" and 'Pains' meaning "bread". Originally, it referred to a group of persons who took their meals together.

Comapany formation and promotion

I. Promotion :
Refers to the entire process by which a company is brought into existence. It starts with the conceptualisation of the birth a a company and determination of the purpose for which it is to be formed. The persons who conceive the company and invest the initial funds are known as the promoters of the company.

INTERNAL CONTROL

INTERNAL CONTROL
1. Tests of control are not concerned with_
a) Existence of controls b) Effectiveness of controls
c) Continuity of controls d) Designing of controls