Q. No.6: Mr. A is a new entrant in the business field. He intends to set up a private limited Company but he does not know the nature and various aspects of a company. He approaches You and raises the following questions. Please answer. i) What is a company? (1 Mark) ii) What are characteristics of company? (5 Marks ) iii) Can one person create a private limited company? (1 Mark) iv) Can a private company sell its shares to the public? (1 Mark) v) Can a private company take loan from a bank? (1 Mark)