Business Studies

Statutory corporations are financially dependent.


ANSWER

False


SOLUTION
Statutory corporations enjoys financial autonomy or independence. They are not subject to budget, audit or accounting control. 

With the prior permission of the government it can even borrow the money within or outside the country.  

It prepares its own budget; and has authority to retain and utilize its earnings for its business.
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TRUE/FALSE Medium Published on 18th 08, 2020
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