Concept: The main cause of disputes is the separation of ownership from control, which is a key feature of limited liability companies.
Explanation: In a joint-stock company, investors (shareholders) are the owners, but management is handled by directors or managers.
Managers make daily business decisions, while shareholders focus on profits and dividends.
Managers may prefer to reinvest profits or increase their salaries, which can conflict with shareholders' desire for higher dividends.
In a sole trader business, ownership and management rest with one person, so such conflict does not arise.
In a partnership, partners usually take part in management decisions, reducing disagreements of this type.
In a co-operative society, members collectively control the enterprise.
Therefore, the business organisation most likely to experience disagreements between management and shareholders is the joint-stock company.
Answer: D. Joint-stock company