partnership
private company
public company
illegal association
Answer is Right!
Answer is Wrong!
The correct answer is: D. illegal association
An association of 25 people not registered under the companies act, but carrying on business, is an illegal association. This is because the Companies Act 2013 requires all companies to be registered with the Registrar of Companies. Failure to do so is a punishable offence.
A partnership is a business relationship between two or more people who agree to share the profits and losses of the business. A private company is a company that is not listed on a stock exchange. A public company is a company that is listed on a stock exchange.
I hope this helps! Let me know if you have any other questions.