Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Companies limited by guarantee are normally profit making businesses, True or False?

April 26, 2017businesses companies False guarantee limited profit

0

Posted

Companies limited by guarantee are normally profit making businesses, True or False?

1 Answer

0

Posted

False, this type of company is typically a club, association or charity which exists primarily to provide a service to the whole community or a section of it. They have non profit orientated memorandum and articles of association which prevent them existing solely to make commercial gains.