Which of the following is true of private corporations?
a. they are owned by the govt.
b. they are most often owned and managed for the purpose of providing a service such as public utilities
c. they are owned by the general public
d. they are not owned by the general public

What is true of private corporations is that they are not owned by the general public - D.

Private corporations are usually being owned by a small number of individuals who hold great power in their hands and then also dictate how these corporations work and how well they fare in their endeavours (services they provide).