Concept:A public company is owned by many shareholders, while its daily operations are handled by appointed managers.
Explanation:In this business type, the owners are the shareholders who invest capital.
These shareholders do not run the firm directly.
Instead, they elect a board of directors.
The board appoints professional managers to control daily activities.
Therefore, the people who manage the business are different from the people who own it.
A sole proprietorship and partnership are usually managed by their owners.
A cooperative society is also managed by its own members.
Only in a public company is there a clear separation of ownership and management.
Answer:B. public company