wiz-icon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

Statutory corporations are financially dependent.

A
True
No worries! We‘ve got your back. Try BYJU‘S free classes today!
B
False
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
Open in App
Solution

The correct option is B False
Statutory corporations enjoys financial autonomy or independence. They are not subject to budget, audit or accounting control.

With the prior permission of the government it can even borrow the money within or outside the country.

It prepares its own budget; and has authority to retain and utilize its earnings for its business.

flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Types of Business Enterprises - 2
BUSINESS STUDIES
Watch in App
Join BYJU'S Learning Program
CrossIcon