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Which of the following statements about public corporation is not true?

Which of the following statements about public corporation is not true?

  • A.
    It is managed by a board of directors
  • B.
    It is established by an act of parliament
  • C.
    A huge capital is needed for its establishment
  • D.
    It is financed mainly by private individuals
Correct Answer: Option D
Explanation
  • Government Owned and financed. 
  • Government Controlled and Managed.
  • Separate Legal Entity. 
  • Perpetual Succession.
  • Autonomy.
  • Service Motive. 
  • Public Accountability.
  • Business Motive.