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JAMB Economics 2003 Question 37

Question 37

Business Organisations

Statutory organisations usually established by Acts of Parliament are called

  1. A.public corporations
  2. B.cooperative societies
  3. C.joint-stock companies
  4. D.public enterprises
Show the answer and explanation

Answer: A (public corporations)

Explanation

Public corporations (e.g. NNPC, NPA) are set up by Acts of Parliament (statutes), so they are statutory corporations.