Concept:When a government-owned firm sells its shares to the public through the stock market, it turns into a public limited company.
Explanation:A state-owned firm is initially owned by the government.
When it is sold through the stock market, its shares are offered to the general public.
Members of the public can freely buy and sell these shares on the stock exchange.
This ownership structure is not restricted to private individuals or a small group.
It is called a public limited company because its shares are open to the public and listed on the stock market.
The government may still own some shares, but the firm is no longer solely state-owned.
It does not become a partnership or a private company.
It also does not remain a public corporation because it is now privately owned by shareholders.
Answer:C. public limited company