Tag: government organisation

Quizzes (6) Questions (79)

Questions Related to government organisation

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

Which of the following is/are statutory corporation?

  1. Life Insurance Corporation(LIC)

  2. Unit Trust of India(UTI)

  3. Food Corporation of India

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
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.

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

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?

  1. Departmental undertaking

  2. Statutory corporation

  3. Government company

  4. All of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

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

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

Statutory body is a body that is created under an ______________.

  1. Act of Parliament

  2. An Act of State Legislatures

  3. Neither (a] nor (b)

  4. Either (a) or (b)
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Statutory body- any body that derives its power from a 'Law' or 'Statute' made by Parliament is called as statutory body or statutory authority. 

Non-statutory body These are bodies which are formed by executive resolution or action, which means that they are formed by governments action only.

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

Which amongst the following is NOT a role of a Company Secretary?

  1. As a statutory officer

  2. As an administrative officer

  3. As a coordinator

  4. As a manager
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The company secretary is responsible for the efficient administration of a company, particularly with regard to ensuring compliance with statutory and regulatory requirements and for ensuring that decisions of the board of directors are implemented. Despite the name, the role is not clerical or secretarial.

The requirement to appoint a Company Secretary in Private Limited Company is governed by the Provision of Rule 8A and in Public / Listed Company by the provisions of Rule 8 of The Companies “Appointment and Remuneration of Managerial Personnel” Chapter XIII under Section 203 of the Companies Act, 2013.

Multiple choice organisation of commerce and management government organisation meaning and features of government company government companies forms, comparison and cases of public enterprises

As per Companies Act $2013$, a company is -
A. Formed and registered under the Companies Act, $2013$
B. An existing company registered under any earlier Companies Act
Select the correct answer from the options given below.

  1. A only

  2. B only

  3. A or B

  4. A but not B
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

A company, which is incorporated under the relevant legislation of a foreign country, will not qualify as a company under the 2013 Act The proviso to section 2(71) states that “a company which is a subsidiary of a company, not being a private company, shall be deemed to be a public company for the purposes.

Multiple choice organisation of commerce and management government organisation meaning and features of government company government companies forms, comparison and cases of public enterprises

Identifying marks of a public limited company are __________.

  1. Formation

  2. Number of members

  3. Directors and meetings

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

A company whose securities are traded on a stock exchange and can be bought and sold by anyone. Public companies are strictly regulated, and are required by law to publish their complete and true financial position so that investors can determine the true worth of its stock (shares). Also called publicly held company.

A company is called as private limited when all its shares are in private hands while the shares in a Public Limited company are open to everyone. 2. Pvt Ltd Company is owned by a group of promoters. In Private Limited companies, the minimum number of shareholders should be two and the maximum 50.

Multiple choice organisation of commerce and management government organisation meaning and features of government company government companies forms, comparison and cases of public enterprises

A Public company whose shares are not on the official list of shares traded on a particular stock market is called _________.

  1. Listed company

  2. Unlisted company

  3. Private company

  4. Public company
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

An unlisted public company is a public company that is not listed on any stock exchange. Though the criteria vary somewhat between jurisdictions, a public company is a company that is registered as such and generally has a minimum share capital and a minimum number of shareholders.

Multiple choice organisation of commerce and management government organisation meaning and features of government company government companies forms, comparison and cases of public enterprises

______ companies are not popular in India.

  1. Unlimited

  2. Limited

  3. Public

  4. Private
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

An unlimited company or private unlimited company is a hybrid company (corporation) incorporated with or without a share capital (and similar to its limited company counterpart) but where the legal liability of the members or shareholders is not limited: that is, its members or shareholders have a joint.

Multiple choice organisation of commerce and management government organisation meaning and features of government company government companies forms, comparison and cases of public enterprises

The Five-member Disinvestment Commission was setup in _______.

  1. 1995

  2. 1996

  3. 1997

  4. 1998
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

 The change process in India began in the year 1991-92, with 31 selected PSUs disinvested for Rs.3,038 crore. In August 1996, the Disinvestment Commission, chaired by G V Ramakrishna was set up to advice, supervise, monitor and publicize gradual disinvestment of Indian PSUs. It submitted 13 reports covering recommendations on privatisation of 57 PSUs.Dr R.H.Patil subsequently took up the chairmanship of this Commission in July 2001.However, the Disinvestment Commission ceased to exist in May 2004. 


Multiple choice organisation of commerce and management government organisation meaning and features of government company government companies forms, comparison and cases of public enterprises

The major tasks of Disinvestment Commission is _____________.

  1. to prepare long-term disinvestment programme

  2. to determine extent of disinvestment in each PSE

  3. to monitor disinvestment process

  4. all the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Disinvestment Commission - The change process in India began in the year 1991-92, with 31 selected PSUs disinvested for Rs.3,038 crore. In August 1996, the Disinvestment Commission, chaired by G V Ramakrishna was set up to advice, supervise, monitor and publicise gradual disinvestment of Indian PSUs.