Concept:The idea that owners of a business are not the ones who manage it is known as separation of ownership and control.
Explanation:In a joint stock company, the shareholders are the owners, but they are numerous and scattered.
As a result, they cannot directly run the daily operations.
They elect a board of directors, and these directors, along with professional managers, exercise control over the company.
Thus, ownership lies with shareholders while control lies with managers.
This separation is not found in a sole proprietorship, because the single owner is also the manager.
It is also absent in a partnership, where the partners jointly own and manage the business.
In a consumer co-operative society, members who own the society also control its affairs democratically.
Therefore, the special feature of separated ownership and control is most prominent in a joint stock company.
Answer:C. joint stock company