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Statutory Corporation Characteristics
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Statutory Corporation Characteristics

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Questions and Answers

What is a key characteristic of a statutory corporation according to the text?

  • Subject to budget constraints
  • Managed by private shareholders
  • Employs government servants
  • Answerable to parliament (correct)

    • How does the staffing system of a statutory corporation differ from government employment?

  • Employees are recruited based on political influence
  • Employees are governed by corporation rules (correct)
  • Employees receive higher salaries than government servants
  • Government owns and manages employees

    • In terms of financial autonomy, what distinguishes a statutory corporation?

  • Managed by private investors
  • Not allowed to borrow money
  • Subject to government budget controls
  • Can borrow money with government permission (correct)

    • Why is there no political interference in the formation of statutory corporations?

    <p>Formed following a specific act or statute</p> Signup and view all the answers

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