Public, Private and Global Enterprises · Class 11 · CBSE · Commerce Business Studies
Which form of public sector enterprise is established under a special Act of Parliament or State Legislature and is financially independent with a se…
Practice question from Public, Private and Global Enterprises (Class 11 · CBSE · Commerce Business Studies), with the correct answer and a step-by-step solution.
easy · MCQ · Q-A0347B
Which form of public sector enterprise is established under a special Act of Parliament or State Legislature and is financially independent with a separate legal entity?
- A.Departmental Undertaking
- B.Statutory CorporationCorrect answer
- C.Government Company
- D.Sole Proprietorship
Solution
A Statutory Corporation (or Public Corporation) is brought into existence by a special Act of Parliament or the State Legislature. It possesses a separate legal existence, financial autonomy, and is accountable to the legislature.
More from Public, Private and Global Enterprises
- Indian Railways is a classic example of which form of public sector enterprise organization?
- According to the Indian Companies Act, a Government Company is defined as any company in which the paid-up share capital held by the Centra…
- State the primary distinction between a Departmental Undertaking and a Statutory Corporation regarding their formation and legal status.
- Which of the following features is not typically associated with Global Enterprises (Multinational Corporations)?
Practise more Business Studies
Sign up free for adaptive practice on this chapter, with instant feedback and hints on every question.
Start practising freeFree to start · No credit card needed