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?

• A. 1 and 2 only
• B. 1, 2 and 3
• C. 3 and 4 only
• D. 1, 2, 3 and 4