Tag: meaning and features of government company

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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

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.