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WAEC Commerce 2023 Question 6

Question 6

Business Units

A business that can obtain capital through the sale of shares is a

  1. A.sole proprietorship.
  2. B.public corporation.
  3. C.public company.
  4. D.cooperative society.
Show the answer and explanation

Answer: C (public company.)

Explanation

A public limited company invites the general public to buy its shares. Sole traders, public corporations (funded by government) and cooperatives do not sell shares to the public.