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Explain five features that differentiate a public company from a public corporation.
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asked
Aug 3, 2021
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Business Studies Form 3
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anonymous
Explain five features that differentiate a public company from a public corporation.
forms of business units
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Aug 3, 2021
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anonymous
Public company
Public Corporation
Formed under Companies Act
Formed under an Act of Parliament
Owned by shareholders
Owned by the government
Managed by a board of directors appointed by shareholders
managed by a board of directors appointed by the government
profit are shared by shareholders
Government has a share of the profits
Established to sell whatever goods or services the promoters feel can be sold to bring profit
Basically established to provide a specific essential goods/services at a subsidized cost.
Decision to wind up made by the shareholders
Decision to wind up made by parliament
Accounts audited by private auditors
Accounts audited by the Government auditor
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