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Public Private and Global Enterprises Test - 16

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Public Private and Global Enterprises Test - 16
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Weekly Quiz Competition
  • Question 1
    1 / -0
    IBM Corporation was founded in _______.
    Solution
    (IBM) International Business Machines Corporation is an American multinational information technology company headquartered in Armonk, New York, with operations in over 170 countries. The company began in 1911 as the Computing-Tabulating-Recording Company and was renamed "International Business Machines" in 1924.
  • Question 2
    1 / -0
    The chief characteristic(s) of public enterprises is/are __.
    $$(1)$$ Autonomous or semi-autonomous organization
    $$(2)$$ Financed, owned & managed by the government
    $$(3)$$ Primary objective of the establishment of public enterprises is to serve the public at lot of profit.
    Solution
    Public enterprises are autonomous and semi autonomous corporations and companies established, owned and controlled by the state and engaged in industrial and commercial activities.
    The chief characteristics of public enterprises include autonomous or semi-autonomous organisation and they are financed, owned & managed by the government.
  • Question 3
    1 / -0
    The organization form of public sector enterprise does not include______________.
    Solution
    Subsidiaries remain private. They are private subsidiaries of a public company. Think about it: if a subsidiary went public, that would mean that its shares were being offered to the public, instead of all being owned by the parent company, and so it would no longer be a subsidiary.
  • Question 4
    1 / -0
    The companies are governed by the Companies Act, ________.
    Solution
    A Government company is defined under Section 2(45) of the Companies Act, 2013 as “any company in which not less than 51% of the paid-up share capital is held by the Central Government, or by any State Government or Governments, or partly by the Central Government and partly by one or more State Governments.
    Section 2(20) of the 2013 Act defines the term company to mean “a company incorporated under the Companies Act 2013 or any previous company law.The sub-section states that for the purposes of such definition, the expression company includes body corporate.
  • Question 5
    1 / -0
    Which of the following refers to a corporate body created by the Parliament of State Legislature by a special Act which defines its powers, functions and pattern of management?
    Solution
    A statutory corporation is a corporation created by the state. Their precise nature varies by jurisdiction, thus, they might be ordinary companies/corporations owned by a government. 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. are some examples of statutory corporations
  • Question 6
    1 / -0
    Which form of organization is primarily used for provision of essential services such as railways, postal services, broadcasting etc.?
    Solution
    A departmental undertaking is organized self- contained but it is under the overall control of the departmental head and the ministry concerned. It is a very old and traditional form of public enterprise. It may be organized as a separate full-fledged ministry.

    It is primarily used for provision of essential services such as railways, postal services, broadcasting etc.
  • Question 7
    1 / -0
    _________ refers to the company in which $$51\%$$ or more of the paid up capital is held by the government.
    Solution
    Government Company is a company or an organization in which at least 51% of the paid up share capital is held by the central government or the state government or partly by both central and state government.
    A company having business operations in India and registered under the Indian Companies Act, 1956 is called Indian Company. An Indian company may be formed as a public limited, private limited or government company.
  • Question 8
    1 / -0
    Which of the following form of organization is/are used for the public sector enterprises in India?
    (i) Departmental undertaking
    (ii) Statutory corporation
    (iii) Government company
    Select the correct answer from the options given.
    Solution
    1. A departmental undertaking is self- contained but it is under the overall control of the departmental head and the ministry concerned. It is a very old and traditional form of public enterprise. It may be organized as a separate full-fledged ministry.
    2. 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.
    3. Government Company is a company or an organization in which at least 51% of the paid up share capital is held by the central government or the state government or partly by both central and state government.
  • Question 9
    1 / -0
    Which of the following is/are statutory corporation?
    Solution
    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.
  • Question 10
    1 / -0
    The primary objective of public sector enterprises is to ________.
    Solution
    An important objective of public enterprises is to prevent the concentration of economic power and growth of private monopolies. Public sector helps the government to enforce social control on trade and industry for ensuring equitable distribution of goods and services, Public sector organisations are businesses set up with the aim of providing a public service rather than making a profit. Social enterprises are private organisations that are run along business lines, but where any profits are reinvested into the community or into social or environmental projects.
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