Table of Contents
- 1 Which of the following is a characteristic of a public corporation?
- 2 What is a public corporation quizlet?
- 3 What are the advantages of public corporation?
- 4 What are the function of public corporation?
- 5 When do corporations not need to establish books of accounts?
- 6 Can a limited liability company be treated as a corporation?
Which of the following is a characteristic of a public corporation?
Which of the following is a defining characteristic of public corporations? Their stock can be bought, sold, or traded by anyone. Articles of partnership are legal documents that set forth the basic agreement between partners.
What is a public corporation quizlet?
What is a public corporation? a public sector business, owned and controlled by the government.
Which of the following is an example of a public corporation?
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) …
What are public corporations and what are their advantages?
Since public corporations are generallylarge, they can benefit from economies of scale, including cheaper pricing and better quality of service. And because public corporations are wholly owned by the government, planning and coordination is easier since the government can take complete control over certain items.
What are the advantages of public corporation?
Advantages of a Public Corporation
- Economies of scale.
- Easier planning and coordination.
- Autonomous set-up.
- Protection of public interest.
- Quicker decisions.
- Raising funds through private sourcing.
What are the function of public corporation?
Functions of Public Corporations and Parastatals Economic growth and development. Production and provision of essential services to the citizens. Provision of employment and job opportunities. Prevention of exploitation.
Which of the following is a disadvantage of a public corporation?
Some of the disadvantages of operating a public corporation include: Difficult to manage. Risk of producing inefficient products. Financial burden.
What does it mean for a corporation to be closely held quizlet?
A “close corporation” refers to a corporation with only a few shareholders and a more relaxed style of governance. Often, shareholders serve as both directors and officers of the corporation. The stock of a closely held corporation is not publicly traded.
When do corporations not need to establish books of accounts?
A corporation need not establish books of accounts. D. When an employee or director commits a tort or crime while conducting corporate business, the corporation is not liable for the consequences.
Can a limited liability company be treated as a corporation?
The management structure of a limited liability company is extremely rigid. B. A single-member limited liability company cannot be treated as a corporation. C. The operating agreement of a limited liability company is most likely to be in the oral form. D.
How does piercing the corporate veil affect a corporation?
3. In general, the creditors of a corporation cannot reach the personal assets of the shareholders to satisfy the corporation’s obligations. 4. Closely held corporations face the loss of limited liability through application of the doctrine known as piercing the corporate veil. 5.
Who is not responsible for debts of a sole proprietorship?
False In sole proprietorship, the owner is NOT responsible for the debts of the business if the company is unable to pay False The Securities and Exchange Commission (SEC) requires that publicly owned corporations submit financial statements to it at least one time