Question 35
Public CorporationsWhich of the following statements about public corporation is not true?
- A.It is managed by a board of directors
- B.It is established by an act of parliament
- C.A huge capital is needed for its establishment
- D.It is financed mainly by private individuals
Show the answer and explanation
Answer: D (It is financed mainly by private individuals)
Explanation
Public corporations are funded mainly by government, not private individuals.