Choose all that are appropriate as a description of a (joint) stock company.

1. The establishment of a stock company requires parliamentary approval.
2. The stock company is, by design, suited to collect small investments from a large number of people.
   
3. The management of a stock company may be entrusted to professionals.
   
4. The managers of a stock company is collectively liable to the business counterparts of the company.
   
5. High-ranking officers of a stock company must hold equity in that company