Tag: meaning and objectives of public sector enterprises

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Multiple choice commercial applications public sector enterprises meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public forms of business organisation - 2

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.

  1. $(3)$ & $(2)$

  2. $(2)$ & $(1)$

  3. $(1), (2)$ & $(3)$

  4. $(1)$ & $(2)$
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

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.

Multiple choice commercial applications public sector enterprises meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public forms of business organisation - 2

Which of the following is public enterprise?
$1$. Hindustan Machine Tools (HMT)
$2$. Gas Authority of India (GAIL)

  1. $2$ only

  2. $1$ only

  3. Both $2$ & $1$

  4. Neither $1$ nor $2$
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The government owned enterprises is called a public enterprise. It refers to any industrial or commercial undertaking which is owned and managed by central, state or local government and of which is the output is marketed. The examples are Hindustan Machine Tools (HMT), Gas Authority of India (GAIL).

Multiple choice commercial applications public sector enterprises meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public forms of business organisation - 2

In July $1997$, which of the following has not been identified as a 'navaratna' public sector enterprise?

  1. SAIL

  2. BHEL

  3. UTI

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

UTI Mutual Fund was carved out of the erstwhile Unit Trust of India as a SEBI registered mutual fund from 1 February 2003. 

The Unit Trust of India Act 1963 was repealed, paving way for the bifurcation of UTI into – Specified Undertaking of Unit Trust of India; and UTI Mutual Fund.

Multiple choice commercial applications public sector enterprises meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public forms of business organisation - 2

Which of the following is/are included in public sector enterprises as 'Navaratnas'?

  1. HPCL

  2. IOC

  3. MTNL

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

A state-owned enterprise in India is called a public sector undertaking (PSU) or a public sector enterprise. 

These companies are owned by the union government of India, or one of the many state or territorial governments, or both. The company stock needs to be majority-owned by the government to be a PSU.

Multiple choice commercial applications public sector enterprises meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public forms of business organisation - 2

The role of public sector was redefined. In July _________, Government identified nine central public sector enterprises as 'Navaratnas'.

  1. $2007$

  2. $1997$

  3. $1967$

  4. $1957$
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The Maharatna firms can now decide on investments of up to 15 per cent of their net worth in a project; the Navaratna companies could invest up to Rs 1,000 crore without explicit government approval.

Multiple choice commercial applications public sector enterprises meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public forms of business organisation - 2

Which of the following cannot be termed as "Public Sector Enterprise"?

  1. Various departments in Government Company registered under the Companies Act, 2013

  2. Government Company registered under the Companies Act, 2013 in which all the shares are held by President of India and only one share is held by nominee of president.

  3. Statutory corporations owned and controlled by Central or State Government.

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

A state-owned enterprise in India is called a public sector undertaking (PSU) or a public sector enterprise. These companies are owned by the union government of India, or one of the many state or territorial governments, or both. The company stock needs to be majority-owned by the government to be a PSU.

Public enterprise, a business organization wholly or partly owned by the state and controlled through a public authority. Some public enterprises are placed under public ownership because, for social reasons, it is thought the service or product should be provided by a state monopoly.

Multiple choice commercial applications public sector enterprises meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public forms of business organisation - 2

Feature(s) of a public corporation is/ are ________________________.

  1. It is generally not exempt from the rigid rules applicable to the expenditure of public funds

  2. A public Corporation is managed by board of directors who are appointed by the public financial institutions

  3. The primary motive of the corporation is public service rather than private profits

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

Public sector refers to government-owned organizations and government provided services. Private sector refers to organizations that are not government owned and the goods and services provided by organizations outside of the government. For example, companies owned by individuals are part of the private sector.

Service Motive The primary motive of Public corporations is to provide services to the people and not to make profits. These organizations are expected to provide goods and services at a cheaper rate. Public Accountability A Public Corporation is accountable in the Parliament or the State Legislature.

Multiple choice commercial applications public sector enterprises meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public forms of business organisation - 2

Which of the following is example of a public corporation?
I. Life Insurance Corporation of India (LIC)
II. Employees State Insurance Corporation (ESIC)
III. Industrial Development Bank of India (IDBI)
Select the correct answer from the options given below.

  1. $I - \checkmark, II - x, III - \checkmark$

  2. $I - x, II - \checkmark, III - x$

  3. $I - \checkmark, II - \checkmark, III - x$

  4. $I - \checkmark, II - \checkmark, III - \checkmark$
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

A company whose shares are publicly traded and are usually held by a large number (hundreds or thousands) of shareholders. The usual British term is a public limited company. A government-owned company such as an airline or public transit company. See also corporation sole. 

examples - LIC, Food Corporation of India (FCI), ONGC, Air India, Indian Airlines, State Bank of India, Reserve Bank of India, Employees State Insurance Corporation, Central Warehousing Corporation, Damodhar Valley Corporation, National Textile Corporation, Industrial Finance Corporation of India (IFCI), Unit Trust of India(UTI). Employees State Insurance Corporation (ESIC), Industrial Development Bank of India (IDBI).

Multiple choice commercial applications public sector enterprises meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public forms of business organisation - 2

Oil and Natural Gas Corporation, Indian Oil Corporation, Steel Authority of India, and Bharat Heavy Electrical are all examples of ______________.

  1. small Scale Units

  2. Private Sector Units

  3. Public Sector Units

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

A state-owned enterprise in India is called a public sector undertaking (PSU) or a public sector enterprise. These companies are owned by the union government of India, or one of the many state or territorial governments, or both. The company stock needs to be majority-owned by the government to be a PSU.

Multiple choice commercial applications public sector enterprises meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public forms of business organisation - 2

Which of the following is example of a public corporation?

  1. Life Insurance Corporation of India

  2. Employees State Insurance Corporation

  3. Industrial Development Bank of India

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

 company whose shares are publicly traded and are usually held by a large number (hundreds or thousands) of shareholders. The usual British term is a public limited company. A government owned company such as an airline or publictransit company. See also corporation sole.