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JAMB Economics 1990 Question 25

Question 25

Business Organisations

Divorce of ownership from control is a characteristic of

  1. A.sole proprietorship
  2. B.a limited liability company
  3. C.partnership
  4. D.a private limited company
Show the answer and explanation

Answer: B (a limited liability company)

Explanation

In a (public) limited liability company the shareholders own it but salaried directors and managers run it.