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what is corporation sole and corporation aggregate?
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Answer / neha agarwala
corporation sole is a legal entity consisting of a sole
incorporated office, occupied by a single man/women and it
has legal continuity.
ex: the office of the Governor of a state or the president
of India
corporation aggregate is a collection of two or more
persons who enjoy perpetual succession and common seal.
| Is This Answer Correct ? | 15 Yes | 2 No |
Answer / temitope
A corporation sole is an individual who represent a seat either in office or in position which has a single separate by law e.g local govt chairman or the manager of a company A Corporation Agregate is form by group of people by law E.G ICAN
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / navanit
corporation sole means the Corporaion only
Corporation aggregate means means the all groups of
companies
| Is This Answer Correct ? | 5 Yes | 14 No |
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Sir, I request you to please solve my problem as given below- One Corporate is having Manufacturing unit and Trading unit also. That corporate prepared joint Balance sheet & Profit & Loss account. As given below - Corporate 1 2 Manufacturing Unit Trading Division Annual Profit by sale of product Annual profit by sale of Product Manufactured with the help of out sourced from open market for Fixed Assets ( Land,Building,Plant & Rs.150 Crs and sold for Rs.200Crs. Machineries of Rs.100 Crs. Net Profit – Rs. 5 Crs. Net Profit -Rs. 50 Crs. Total Income by clubbing both - Rs.55 Crs. But – that Corporate can avail depreciation Rs. 5 Crs only and rest amount of depreciation may be forwarded to next year. Because depreciation is meant for actual uses of Fixed assets. Otherwise Corporate used to increase the value of assets by over billing just to get benefit of depreciation from the income . Income from trading may be manipulated easily but not from manufacturing.
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