Commercial Applications
What is the meaning of Public Accountability?
- Money invested in public enterprises is public money and public sector enterprises are answerable to the public through the Parliament.
- Ultimate control of a public sector undertaking lies with the government.
- Public sector undertakings are fully owned by government or some public authority.
- None of these
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Answer
Money invested in public enterprises is public money and public sector enterprises are answerable to the public through the Parliament.
Reason — Public accountability means that since the money invested in public sector enterprises is public money (raised through taxes), these enterprises are answerable to the public through their elected representatives in Parliament. Option 2 refers to 'government control' and option 3 refers to 'state ownership' — these are separate characteristics of public sector undertakings.
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