A statutory corporation is established through a special Act passed by the Parliament or a State legislature. This Act defines its powers, structure, and functions. Because it is created by law, it enjoys autonomy and operates independently while still being accountable to the government.
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Question
A _________ is an autonomous corporate body created by the special Act of the Parliament or State legislature.
Options
Statutory corporation
government company
MNC
MCQ
Fill in the Blanks
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Solution
A Statutory corporation is an autonomous corporate body created by the special Act of the Parliament or State legislature.
Explanation:
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Chapter 5: Forms of Business Organisation - II - EXERCISE [Page 112]
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RELATED QUESTIONS
A statutory corporation is answerable to ______ Or state assembly whosoever creates it.
Give one word/phrase/term.
An autonomous corporate body created by the Special Act of the parliament or state legislature with defined powers, functions, and duties.
Give one word/phrase/term.
An organisation which is answerable to parliament or state assembly whosoever creates it.
Give one word/phrase/term.
An organisation which 1s not subject to the budget, accounting and audit controls by the government.
Complete the sentence.
A ___________ has defined powers, functions and duties.
Correct the underlined word and rewrite the following sentence.
Statutory Corporation is a natural person created by special Acts.
Correct the underlined word and rewrite the following sentence.
A Statutory Corporation is not answerable to parliament or state assembly.
Study the following case/situation and express your opinion.
A central government passes a statute in the parliament and forms a business organisation which is having autonomy in administration and this organisation is answerable to the legislature.
- Which type of organisation is this?
- Give any three Features of this organisation.
- Give anyone an example of this type of organisation.
Justify the following statement.
There is no political interference in statutory corporations.
Attempt the following.
Demerits of Statutory Corporation.
Answer the following in detail.
Explain merits and demerits of Statutory Corporation.
Which of the following is a major advantage of statutory corporations in India?
What is one main role of the Reserve Bank of India as a statutory corporation?
Why can statutory corporations easily raise capital for their operations?
Which feature directly relates to employees following corporation rules rather than government rules?
