if a state owned firm is sold through the stock market, the organisation becomes?

Step 1: Analyze the question A state-owned firm (a public corporation) is being sold to the public through the stock market. This process is called privatization, and the question asks what type of organisation it becomes.

Step 2: Explain the concept

• Public corporation: owned and controlled by the government (e.g., NNPC, PHCN in the past). It is not sold on the stock market.
• Public limited company (PLC): a company whose shares are offered to the general public and traded on the stock exchange. Its name ends with "Plc" (e.g., Dangote Cement Plc, MTN Nigeria Plc).
• Private company (Ltd): its shares cannot be sold to the general public, and it is limited to a small number of members.
• Partnership: an association of 2 to 20 persons who run a business together. It does not issue shares on the stock market.

Step 3: Solution

1. The firm was state-owned, so it began as a public corporation.
2. Selling it through the stock market means ordinary members of the public buy its shares.
3. A company whose shares are freely traded on the stock exchange is a public limited company.
4. Options A and B do not allow public share trading, and D is what the firm was before the sale.

Step 4: Answer The correct option is C. public limited company.

Tip: Remember the keyword pairing: "Stock market" = "Plc". Also, privatization moves a business from public corporation → public limited company (or private ownership), while commercialization keeps government ownership but runs it for profit. WASSCE often tests this difference.