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Which of the following business organization is allowed to raise capital by sales of shares...

Economics
JAMB 2018

Which of the following business organization is allowed to raise capital by sales of shares to more than twenty people?

  • A. Partnership
  • B. Sole proprietorship
  • C. Public limited liability company
  • D. Private limited liability company
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Correct Answer: Option C
Explanation

Public Limited Liability Company is defined as one which allows the public to subscribe for its shares. The number of shareholder range from seven to infinity i.e owners must be at least seven but there is no maximum number


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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC offline past questions - with all answers and explanations in one app - Download for free
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC offline past questions - with all answers and explanations in one app - Download for free