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

  • 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
waec 2010economics

The correct answer is B. sells its shares to members of the public

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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