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On the basis of liability, companies may be classified into:

By the liability of members, companies are companies limited by shares, companies limited by guarantee and unlimited companies, as recognised in s.2(22), s.2(21) and…

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On the basis of liability, companies may be classified into:

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Correct answer C

By the liability of members, companies are companies limited by shares, companies limited by guarantee and unlimited companies, as recognised in s.2(22), s.2(21) and s.2(92). Public, private and One Person Companies are classified by number of members, registered and statutory companies by mode of incorporation, and government or foreign companies by control or place of incorporation.

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