Consider the following statements about a joint-stock company:
1. It has a legal existence.
2. There is limited liability of share-holders.
3. It has a democratic management.
4. It has a collective ownership.
Which of the statements given above are correct?
1
1 and 2 only
2
1, 2 and 3
3
3 and 4 only
4
1, 2, 3 and 4