WAEC Economics 2014 Theory — Question 11

Model answer

Public Limited Company | Private Limited Company 1. Can sell shares to the general public | 1. Cannot sell shares to the general public 2. Requires a minimum of 7 shareholders | 2. Requires a minimum of 2 shareholders 3. Shares are freely transferable (traded on the stock exchange) | 3. Shares are not freely transferable 4. Must publish its accounts/annual reports | 4. Not required to publish its accounts publicly