Q. Managing Agency Houses were
(a) trading organizations
(b) joint-stock companies
(c) private partnership firms, which controlled through legal contracts a host of joint-stock companies.
(d) insurance companies
Ans: (c) private partnership firms, which controlled through legal contracts a host of joint-stock companies.
Explanation: The correct answer is (c) private partnership firms, which controlled through legal contracts a host of joint-stock companies.
Managing Agency Houses were private partnership firms that controlled a network of joint-stock companies through legal contracts. These firms acted as managing agents for multiple companies, providing administrative, managerial, and financial services. The managing agency system was prevalent in India during the colonial period, particularly in industries like jute, textiles, and engineering. The managing agency houses played a significant role in the economic and industrial landscape of that time.
