Tag: forms, comparison and cases of public enterprises

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

Which of the following describes the desired future position of the company?

  1. Vision statement

  2. Mission statement

  3. Planning statement

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

A vision statement is sometimes called a picture of your company in the future but it’s so much more than that. Your vision statement is your inspiration, the framework for all your strategic planning. 

It describes what you are trying to build and serves as a touchstone for your future actions. A vision statement may apply to an entire company or to a single division of that company.
Whether for all or part of an organization, the vision statement answers the question, "Where do we want to go?"

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

Central Government has prescribed that public companies with paid up share capital of _________; or turnover of ______; or in aggregate, outstanding loans/ borrowings/ debentures/ deposits/ exceeding ________ as on the last date of latest audited financial statements mentioned below shall also have at least ________ as independent directors.

  1. Rs.1 crore or more; Rs.10 crore or more; Rs.50 crore or more; 2 directors

  2. Rs.10 crore or more; Rs.100 crore or more; Rs.50 crore or more; 2 directors

  3. Rs.20 crore or more; Rs.150 crore or more; Rs.100 crore or more; 3 directors

  4. Rs.100 crore or more; Rs.1,000 crore or more; Rs.500 crore or more; 3 directors
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The Companies Act, 2013 defied a Public Limited Company as a private company means a company having a minimum paid-up share capital of one lakh rupees or such higher paid-up share capital as may be prescribed.Hence, a public limited company can also be started without a minimum capital of rupees five lakhs.

Rs.10 crore or more; Rs.100 crore or more; Rs.50 crore or more; 2 directors.

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 companies are governed by the Companies Act, ________.

  1. $1956$

  2. $1936$

  3. $2013$

  4. $1856$
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

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.

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

Company has ________ sucession.

  1. Longer

  2. Continued

  3. Perpetual

  4. Limited
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

In company law, perpetual succession is the continuation of a corporation's or other organization's existence despite the death, bankruptcy, insanity, change in membership or an exit from the business of any owner or member, or any transfer of stock, etc.

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

Audit of Government Company is done by C & AG. This statement is ______________.

  1. True

  2. False

  3. Partly True

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

Auditor of all types of companies, except a Government Company, shall be appointed by the Board of Directors within 30 days from the date of registration of the Company. Tenure: First Auditor appointed by Board shall hold office till the conclusion of the first annual general meeting of the Company.

The Comptroller and Auditor General (CAG) of India is an authority, established by Article 148 of the Constitution of India, which audits all receipts and expenditure of the Government of India and the state governments, including those of bodies and authorities substantially financed by the government.

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

Which of the following are the characteristics of a company? 

  1. Corporate Personality

  2. Limited Liability

  3. Perpetual Succession

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

A company as an entity has many distinct features which together make it a unique organization. The essential characteristics of a company are following: Separate Legal Entity The company is distinct and different from its members in law. Thus, a company may be defined as An incorporated association which is an artificial -person created by law, having a separate entity, with a perpetual succession, a common seal, capital divided into transferable shares and carrying limited liability.

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 subsidiary of government company is also treated as a ___________. 

  1. Government Company

  2. Public Company

  3. Private Company

  4. All of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation
The Central Government, or Any State Government or Governments, or Partly by the Central Government and partly by one or more State Governments, or includes a Company which is a Subsidiary Company of such a Government Company; A Subsidiary of Government Company shall also be treated as a Government Company.
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
.the   government-owned corporation is a legal entity that undertakes commercial activities on behalf of an owner government. Their legal status varies from being a part of the government to stock companies with a state as a regular stockholder.