Tag: government organisation

Questions Related to government organisation

Statutory corporations have the power of ________________.

commercial applications government organisation statutory/public corporations meaning and features of public corporation statutory corporations

  1. Government

  2. Public enterprises

  3. Private enterprises

  4. All of the above

Show answer
Correct Option: D
Explanation:

A statutory corporations is a valuable instrument for economic development. It has the power of the government, combined with the initiative of public and private enterprises.

Statutory corporations are free from undesirable government regulations and control.

commercial applications government organisation statutory/public corporations meaning and features of public corporation statutory corporations

  1. True

  2. False

Show answer
Correct Option: B
Explanation:

Government policy can influence interest rates, a rise in which increases the cost of borrowing in the business community. Higher rates also lead to decreased consumer spending. Lower interest rates attract investment as businesses increase production.

The policies and procedures of a statutory corporation are assigned to them by __________.

commercial applications government organisation statutory/public corporations meaning and features of public corporation statutory corporations

  1. Government

  2. Organization itself

  3. Special act of parliament

  4. Neither of the above

Show answer
Correct Option: C
Explanation:

Since statutory corporations are autonomous organizations, they frame their own policies and procedures within the powers assigned to them by the Act. The Act may, however, provide few issues which require prior approval of a particular ministry.

Government do not interfere on major decisions and huge financial decisions of the statutory corporations.

commercial applications government organisation statutory/public corporations meaning and features of public corporation statutory corporations

  1. True

  2. False

Show answer
Correct Option: B
Explanation:

Statutory corporations are body corporates formed by a special act of parliament or by the central or state legislature. It is fully financed by the government. Its powers, objects, limitations etc. are also decided by the act of the legislature.

Statutory corporations are public enterprises brought into existence by _____________.

commercial applications government organisation statutory/public corporations meaning and features of public corporation statutory corporations

  1. Public

  2. Government

  3. Special act of parliament

  4. Private enterprises

Show answer
Correct Option: C
Explanation:

Statutory corporations are public enterprises brought into existence by a Special Act of the Parliament which defines it's powers, functions, rules and regulations etc.

Which of the following entity is created under an Act of the Parliament or an Act of the State Legislature?

commercial applications government organisation statutory/public corporations meaning and features of public corporation statutory corporations

  1. Statutory corporation

  2. Government companies

  3. Co-operative society

  4. Limited Liability Partnership

Show answer
Correct Option: A
Explanation:

Statutory corporations are public enterprises brought into existence by a Special Act of the Parliament. The Act defines its powers and functions, rules and regulations governing its employees and its relationship with government departments.It is a corporate person and has the capacity of acting in its own name.

Examples: Reserve Bank of India, State Bank of India, Life Insurance Corporation, Unit Trust of India, Employees State Insurance Corporation, Oil and Natural Gas Corporation etc examples of statutory corporations.

An advocate in India sue for his fees.

commercial applications government organisation statutory/public corporations meaning and features of public corporation statutory corporations

  1. True

  2. False

  3. Partially true

  4. Totally irrelevant

Show answer
Correct Option: A
Explanation:

Yes, in India an advocate sue for his fees. Charging of fees depends on the Lawyers considering the nature of the case, status of the litigants, labour that requires in research works, etc. Even there are Lawyers who charge or not even charge for many good causes. 

Therefore, for this query, i answer that the fee of the lawyers is solely at the wisdom of the lawyer. They deal with the cases and whatever be the result, they take it to appeal or defend the appeal.
 If the case ends in their favour, other side would prefer appeal and if the case ends against his client, he would prefer appeal. So in any ways, he gets fruits. I would rather say, it is like harvesting coconut trees which gives yield in all the ways.

_____is the conclusive evidence in case of company that statutory all the requirements have complied with regarding the company registration.

commercial applications government organisation statutory/public corporations meaning and features of public corporation statutory corporations

  1. Certificate of incorporation

  2. Certificate of commencement of business

  3. Both

  4. None of the above

Show answer
Correct Option: A
Explanation:

Certificate of incorporation is a legal document required at the time of company formation. It is said to be a license to form a company, issued by the state government. Certificate of incorporation has been divided into the different articles but there are many others things that can be included in the certificate of Incorporation. There should be a digital signature which should add by the director of the corporation.

Statutory meeting is to be held by __________________.

commercial applications government organisation statutory/public corporations meaning and features of public corporation statutory corporations

  1. Public Limited company

  2. Private Limited company

  3. Both a & b

  4. None of the above

Show answer
Correct Option: A
Explanation:

It is a limited liability company whose shares may be freely sold and traded to the public (although a plc may also be privately held, often by another plc), with a minimum share capital of £50,000 and usually with the letters PLC after its name.

It is a limited liability company whose shares may be freely sold and traded to the public (although a plc may also be privately held, often by another plc), with a minimum share capital of £50,000 and usually with the letters PLC after its name. Public limited companies will also have a separate legal identity.

Corporate citizenship is also known as _________.

commercial applications government organisation statutory/public corporations meaning and features of public corporation statutory corporations

  1. Corporate Governance

  2. Corporate image

  3. Corporate Social Responsibility

  4. Both (a) and (c)

Show answer
Correct Option: D
Explanation:

Corporate Citizenship is a recognition that a business, corporation or business-like organisation, has social, cultural and environmental responsibilities to the community in which it seeks a licence to operate, as well as economic and financial ones to its shareholders or immediate stakeholders.