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WAEC Commerce 2025 Question 13

Question 13

Business Units

A business unit that is restricted from transferring shares freely is a

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

Answer: B (private company.)

Explanation

A private company's Articles restrict the transfer of its shares, and it cannot sell shares to the public.