Concept:Separation of ownership from control means the people who own a firm are not the same people who manage its daily affairs.
Explanation:In a joint-stock company, ownership is spread over many shareholders.
These shareholders rarely manage the business directly.
Instead, they elect a board of directors and hire professional managers to run the firm.
So the owners (shareholders) and the controllers (managers) are separate groups.
This separation is very clear because individual shareholders usually own only a tiny part of the company.
In a sole proprietorship and partnership, the owners are also the managers.
In a consumer co-operative society, members both own and control the society collectively.
Thus, the separation of ownership from control is more pronounced in a joint-stock company than in the other business structures.
Answer:B. Joint-stock company