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
Correct Answer: B
Explanation
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.
