Question

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

Answer 1

Public company	Public Corporation
Formed under Companies Act	Formed under an Act of Parliament
Owned by shareholders	Owned by the government
Managed by a board of directors appointed by shareholders	managed 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 profit	Basically 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