Question

Which of the following is true about Statutory corporations?
1 Statutory corporations are subject to the same accounting and audit procedures as are applicable to government depart
2 Statutory corporations are public enterprises that come into existence by a special act of the parliament
3 Statutory enterprises are funded directly by the government treasury
4 The employees of statutory enterprises are civil servants.​

Answer 1

Answer:

1 Statutory corporations are subject to the same accounting and audit procedures as are applicable to government depart

Explanation:

This is the correct answer.