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public private and global enterprises Quiz-1

Total questions: 25

Worksheet time: 17mins

Name
Class
Date
1.

In your neighborhood market, there are shops owned by sole proprietors or big retail organisations run by a company. They belong to which sector?

a)

public

b)

private

c)

social

d)

mix

2.

Public sector organisations may either be partly or wholly owned by the______________ government.

a)
state
b)
central
c)
foreign
d)
central and state
3.

Departmental enterprises is the form of public sector enterprises which is most suitable for operations where national security is concerned

a)
True
b)
False
c)
Can’t say
d)
Partially true
4.

Which of the following has the power of the government and the considerable amount of operating flexibility of private enterprises?

a)
Departmental undertakings
b)
Statutory corporations
c)
Government companies
d)
All of the above
5.

Which is the oldest and most traditional form of organising public enterprises?

a)
Statutory corporation
b)
Public company
c)
Government company
d)
Departmental undertaking
6.

As India has adopted the framework of capitalist economy, thus all business organisations can be grouped as privately owned and government owned organisations.

a)
True
b)
False
c)
Can’t say
d)
Partially true
7.

Government of India establishes its enterprises in backward areas. By doing this, which objective is fulfilled?

a)
Economies of scale
b)
Development of infrastructure
c)
Import substitution
d)
regional balance
8.

Statutory corporations are formed by a Special Act of Parliament. The Act defines their powers objects and privileges

a)
True
b)
False
c)
Can’t say
d)
Partially false
9.

The private sector consists of business owned by _______ .

a)
state government
b)
central government
c)
individuals or group of individuals
d)
ministers
10.

Conversion of a PSU into a private sector enterprise is termed as __________ .

a)
Globalisation
b)
De-urbanisation
c)
Privatisation
d)
Liberalisation
11.

How many industries are now reserved for public sector?

a)
1
b)
2
c)
3
d)
4
12.

Match the ‘forms of public enterprises’ in column I with their respective example in column II.

a)
A
b)
B
c)
C
d)
D
13.

Public Ltd. company comes under which sector?

a)
public sector
b)
private sector
c)
joint sector
d)
none of the above
14.

Which PSU was the first to be privatised successfully in India?

a)
LJMC
b)
GAIL
c)
ONGC
d)
BHEL
15.

Government has given autonomy to a PSU to improve its performance but held it accountable for specified result under an agreement. What is this agreement called?

a)
MOA
b)
AOA
c)
MOU
d)
GOU
16.

Airtel is a big company providing telecom services to millions of people in India. Similarly, BSNL also provides telecom services to many people.Government of India is holding 100%of the share capital of BSNL, whereas Airtel is not under the direct control of government. Identify the sectors in which Airtel and BSNL enterprises are working.

a)
private and public
b)
public
c)
private
d)
none of these
17.

The Reserve Bank of India (RBI) was established under a Special Act of the Parliament, that lays down the objects,powers and functions of the corporation. It was established on 1st April, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934. RBI formulates, implements and monitors the monetary policy and its main objective is to maintain price stability while keeping in mind the objective of growth. How will you classify the Reserve Bank of India as a form of public sector enterprise?

a)
Departmental undertaking
b)
Statutory corporations
c)
Government company
d)
None of the above
18.

Which of the following is true about statutory corporations?

a)
Statutory corporations are public that come into existence by Special Act of the Parliament.
b)
Statutory corporations are subject to the same accounting and audit procedures as are applicable to government departments.
c)
Statutory enterprises are funded directly by the government treasury.
d)
The employees of statutory enterprises are civil servants.
19.

Which form of PSU has its own MoA and AoA?

a)
Private company
b)
Government company
c)
Departmental undertaking
d)
None of the above
20.

Steel Authority of India Limited (SAIL)is one of the largest steel-making companies in India and one of the Maharatnas of the country’s Central Public Sector Enterprises.Vision of SAIL is to be a respected world class corporation and the leader in Indian steel business in quality,productivity, profitability and customer satisfaction.SAIL was incorporated on 24th January, 1973 with an authorised capital of ` 2,000 crore and was made responsible for managing five integrated steel plants at Bhilai, Bokaro,Durgapur, Rourkela and Bumpur, theAlloy Steel Plant and the Salem Steel Plant. As government is the majority shareholder (with 75% stake), it exercises control over affairs of the company. Which type of public sector enterprise is highlighted here?

a)
Departmental undertaking
b)
Statutory corporation
c)
Government company
d)
None of the above
21.

BHEL was formed according to which Act?

a)
Partnership Act
b)
Hindu Succession Act
c)
Companies Act
d)
Cooperative Societies Act
22.

The board of directors of the company are appointed by

a)
government
b)
public
c)
shareholders
d)
none of these
23.

“As government is the majority shareholder, it exercises control over the affairs of the company.” Which feature of government company highlighted in the given lines?

a)
Formation
b)
Ownership
c)
Separate legal entity
d)
Audit procedure
24.

What is the agreement called when the government gives autonomy to a PSU to improve its performance but holds it accountable for specified results?

a)

MOA

b)

AOA

c)

MOU

d)

GOU

25.

What is the main objective of the Reserve Bank of India (RBI) in formulating and implementing monetary policy?

a)

To maintain price stability and promote growth

b)

To maximize profits for the government

c)

To control the stock market

d)

To regulate foreign exchange rates