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CBSE Questions for Class 11 Commerce Business Studies Private Public And Global Enterprises Quiz 6 - MCQExams.com
CBSE
Class 11 Commerce Business Studies
Private Public And Global Enterprises
Quiz 6
Bharat Heavy Electrical Limited is _________?
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0%
Government company
0%
Private sector company
0%
Non-profit making company
0%
All of the above
Explanation
Bharat Heavy Electricals Limited owned and founded by the Government of India, is an engineering and manufacturing company based in New Delhi, India. Established in 1964, BHEL is India's largest power generation equipment manufacturer.
Employees of ___________ are considered as government employees.
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0%
Departmental undertaking
0%
Government company
0%
Statutory corporation
0%
None of these
Explanation
The employees of a departmental undertaking are civil servants and are recruited and compensated as per the government regulation. Departmental undertaking operates under the overall control of central or state government.
Audit of Government Company is done by C & AG. This statement is ______________.
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0%
True
0%
False
0%
Partly True
0%
Partly False
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.
Feature(s) of a public corporation is/ are ________________________.
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It is generally not exempt from the rigid rules applicable to the expenditure of public funds
0%
A public Corporation is managed by board of directors who are appointed by the public financial institutions
0%
The primary motive of the corporation is public service rather than private profits
0%
All of above
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.
Statutory body is a body that is created under an ______________.
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0%
Act of Parliament
0%
An Act of State Legislatures
0%
Neither (a] nor (b)
0%
Either (a) or (b)
Explanation
Statutory body
- any
body
that derives its power from a 'Law' or '
Statute
' made by Parliament is called as
statutory body
or
statutory
authority.
Non-statutory body
These are
bodies
which are formed by executive resolution or action, which means that they are formed by governments action only.
Oil and Natural Gas Corporation, Indian Oil Corporation, Steel Authority of India, and Bharat Heavy Electrical are all examples of ______________.
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0%
small Scale Units
0%
Private Sector Units
0%
Public Sector Units
0%
Sick Units
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.
Company has ________ sucession.
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0%
Longer
0%
Continued
0%
Perpetual
0%
Limited
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.
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.
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Rs.1 crore or more; Rs.10 crore or more; Rs.50 crore or more; 2 directors
0%
Rs.10 crore or more; Rs.100 crore or more; Rs.50 crore or more; 2 directors
0%
Rs.20 crore or more; Rs.150 crore or more; Rs.100 crore or more; 3 directors
0%
Rs.100 crore or more; Rs.1,000 crore or more; Rs.500 crore or more; 3 directors
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.
The public corporation is suitable for undertakings requiring monopoly powers, e.g., public utilities.
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0%
True
0%
False
0%
Partly true
0%
None of above
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
public
limited company. A government owned company such as an airline or
public
t
ransit company. See also
corporation
sole.
Which of the following is not reserved for public sector?
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Railway
0%
Atomic Energy
0%
Defense
0%
None of the above
Explanation
The three industries of Railways, Atomic Energy and Defense are reserved for operation and management by the public sector or Government only. This is because of the need for security and secrecy to be maintained especially in the functioning of the Atomic Energy sector and Defense of the country. Also, Railways is basic service available at a low rate to all and thus handled by the Government.
Which of the following can be termed as "Public Sector Enterprise"?
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Various departments in Government Company registered under the Companies Act, 2013
0%
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.
0%
Statutory corporations owned and controlled by Central or State Government.
0%
All of the above
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.
Which of the following is most suitable where national security is concerned?
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0%
Departmental undertaking
0%
Government company
0%
Statutory corporation
0%
None of these
Explanation
Where national security is of utmost importance, a departmental undertaking is the best form of public sector organization as the government's control on such enterprise is very effective because it is direct and centralized. The government has full control over it and can maintain the secrecy of its operations.
Which of the following has the capability of expansion beyond the domestic territory and operate through a network of subsidiaries, branches, and affiliates?
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MOFA
0%
MNC
0%
Public Sector Enterprises
0%
Private Sector Enterprises
Explanation
A multinational corporation (MNC) is a body corporate that operates in multiple countries through a network of subsidiaries, branches, and affiliates in their host countries. Example:- Coca-Cola, Hyundai, etc.
A subsidiary of government company is also treated as a ___________.
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0%
Government Company
0%
Public Company
0%
Private Company
0%
All of the above
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.
Joint ventures are especially popular with businesses operating in different countries, eg within the transport and travel industries.
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0%
True
0%
False
Explanation
It is in all the sectors including IT, MEDIA ,Food chains etc
Tick mark the correct answer.
M.B.O is a technique which requires that objectives of the enterprise.
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Be written and defined in broad terms
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Lay down the time period for achieving the results
0%
Induce a plan of action for achieving the desired results
0%
Be defined in terms of measurable results
Explanation
MBO is a technique also known as Management by Objectives, which helps in determining goals for the management. This technique is used in different areas of an organization such as performance appraisal, organizational development, etc. The following are the advantages of this technique:
1. Clarifies roles and structures in an organization.
2. Provide effective control.
3. Helps in achieving specified goals.
Thus the correct answer is D.
Which of the following are the characteristics of a company?
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Corporate Personality
0%
Limited Liability
0%
Perpetual Succession
0%
All of the above
Explanation
A
company
as an entity has many distinct features that together make it a unique organization. The essential characteristics of a company are the 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 perpetual succession, a common seal, capital divided into transferable shares, and carrying limited liability.
A joint ownership venture may be brought about in which of the following way(s)?
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Foreign investor buying an interest in a local company.
0%
Local firm acquiring an interest in an existing foreign firm.
0%
Both the foreign and local entrepreneurs jointly forming a new enterprise.
0%
All of the above
Explanation
A
joint venture
(JV) is a business entity created by two or more parties, generally characterised by shared
ownership
, shared returns and risks, and shared governance.Most
joint ventures
are incorporated, although some, as in the oil and gas industry, are "unincorporated"
joint ventures
that mimic a corporate entity.
Which amongst the following is NOT a role of a Company Secretary?
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As a statutory officer
0%
As an administrative officer
0%
As a coordinator
0%
As a manager
Explanation
The company secretary is responsible for the efficient administration of a company, particularly with regard to ensuring
compliance
with statutory and regulatory requirements and for ensuring that decisions of the board of directors are implemented. Despite the name, the role is not clerical or secretarial.
The requirement to
appoint
a
Company Secretary
in Private Limited
Company
is governed by the Provision of Rule 8A and in Public / Listed
Company
by the provisions of Rule 8 of The
Companies
“
Appointment
and Remuneration of Managerial Personnel” Chapter XIII under Section 203 of the
Companies
Act, 2013.
The maximum Statutory Liquidity Ratio to be maintained by banks is_______________:
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0%
25%
0%
30%
0%
35%
0%
40%
Explanation
The maximum Statutory Liquidity Ratio to be maintained by banks is 40%. This ratio refers to the minimum percentage of net total demand and time liabilities, which commercial banks are required to maintain with themselves. It is also determined by the RBI to control the expansion. This ratio is maintained to control the bank's leverage for the credit facility.
Thus the correct answer is D.
Which of the following is a departmental undertaking?
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0%
LIC
0%
BHEL
0%
Railways
0%
All of these
Explanation
The Railways is managed by the Ministry of Railways. This is the oldest form of public sector enterprise. The departmental undertaking is considered as one of the departments of government. Therefore, Option C is correct.
MOFA stands for
Report Question
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Multi owned financial authority
0%
Memorandum of financial association
0%
Ministry of Foreign Affairs
0%
None of the above
Explanation
The Ministry of Foreign Affairs is the government department responsible for the state's diplomacy, bilateral, and multilateral relations affairs as well as for providing support for a country's citizens who are abroad. The entity is usually headed by a foreign minister. The Ministry of Foreign Affairs is an executive government agency which is responsible for foreign affairs.
Which of the following government departments does not have a separate legal identity?
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Public corporation
0%
Government company
0%
Departmental undertaking
0%
Public limited company
Explanation
Departmental undertakings are the oldest form of public sector enterprises. A departmental undertaking is considered as one of the departments of government. It has no separate legal existence from the government.
Which type of public-sector enterprises allow private individuals to own shares?
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Departmental undertaking
0%
Government company
0%
Statutory corporation
0%
None of these
Explanation
A government company is wholly or partly owned by the government. It may include private individuals as shareholders.
Departmental Undertakings and Statutory Corporations are wholly owned and controlled by the government.
How are the powers and objectives of a statutory corporation defined?
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By Companies Act
0%
By Special Act
0%
By Partnership Act
0%
All of the above
Explanation
A statutory corporation is a body of corporate formed by a special Act of Parliament or by the central or state legislature. It is fully financed by the government. Its power, objects, limitations etc.are also decided by the Act of the legislature.
Name the type of corporation in which the government owns at least 51 percent of the shares.
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Public Corporation
0%
Government Company
0%
Departmental Undertaking
0%
Public Ltd. Company
Explanation
Government company means any company in which at least 51 percent of the paid-up share capital is held by the central or state government or partly by central and state governments. These companies are governed by the provisions of the Companies Act, 2013.
Which of the following enterprises operates as a Public Corporation?
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0%
Indian Airlines
0%
State bank of India
0%
Life Insurance Corporation of India
0%
All of the above
Explanation
A public corporation is a body corporate formed by a special act of the parliament or by the state legislature. Its powers, objects, limitations, etc. are governed by such statute. For example - Air India, State Bank of India, Life Insurance Corporation of India, Food Corporation of India, Oil and Natural Gas Corporation, etc.
Which of the following enterprises operates as Government Companies?
Report Question
0%
Steel Authority of India
0%
State Trading Corporation
0%
Hindustan Machine Tools
0%
All of the above
Explanation
Government company means any company in which at least 51 percent of the paid-up share capital is held by the central or state government or partly by central or state government. Examples - Steel Authority of India, State Trading Corporation, Hindustan Machine Tools.
Which of the following enterprises operates as a departmental undertaking?
Report Question
0%
Defence
0%
Railways
0%
Both the above
0%
None of the above
Explanation
A departmental undertaking is considered as one of the departments of the government. It has no separate legal existence from the government. It functions under the overall control of one ministry or department of government. For example:- Railways, Defence, Post and Telegraph, Broadcasting, Telephone services, etc.
Which of the following enterprise is formed by passing a special act in the parliament?
Report Question
0%
Departmental Undertaking
0%
Public Corporation
0%
Government Company
0%
Private Ltd. Company
Explanation
A Public Corporation is a body corporate formed by a special act of parliament or the state legislature. It is wholly financed by the government. Its powers, objects, limitations, etc. are governed by such statute.
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