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Explain five features that differentiate a public company from a public corporation.

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 Public companyPublic Corporation 
Formed under Companies ActFormed under an Act of Parliament
Owned by shareholdersOwned by the government
Managed by a board of directors appointed by shareholdersmanaged 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 profitBasically 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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