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General Accounting Principles Accounting for Shares

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Persons who start a company are called ……………….

Shareholders

Directors

Promoters

Auditors

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Explanation:

Promoters:

A promoter conceives an idea for setting-up a particular business at a given place and performs various formalities required for starting a company. A promoter may be a individual, firm, association of persons or a company.The persons who assist the promoter in completing various legal formalities are professional people like Counsels, Solicitors, Accountants etc. and not promoters.