Concept:Democracy in a public limited company means that the ultimate control rests with the shareholders through voting rights.
Explanation:In a public limited liability company, ownership is spread among many shareholders.
These shareholders exercise democratic control by electing the board of directors.
The board manages the company on behalf of the shareholders.
Since directors are chosen through shareholder votes, the company follows a democratic process.
Day-to-day management is not based on electoral principles, and directors are not public officers.
Hence, the democratic nature comes from the power of shareholders to elect the board.
Answer:D. shareholders elect the board of directors