A firm is said to be a public joint stock company when it

Economics

WAEC 2010

A. is owned by the government
B. sells its shares to members of the public
C. operates as a government corporation
D. is not legally recognized as a firm

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Correct Answer: Option B

Explanation

A public joint stock company is a business association engaged in a business for profit making, with ownership interests represented by sales of shares/stock to the public. This business entity has share capital divided into shares of equal nominal value.

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