Company Final Accounts

Accountancy (Phase -I & II)

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When two or more companies carrying on similar business decide to combine, a new company is formed, it is known as ..................

Amalgamation

Absorption

Internal reconstruction

External reconstruction

Explanation:

An amalgamation is a combination of two or more companies into a new entity. Amalgamation is distinct from a merger because neither company involved survives as a legal entity. Instead, a completely new entity is formed to house the combined assets and liabilities of both companies.

By: honey kaundal

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