Meaning: A 'shareholder' is someone who owns shares in a company or enterprise.

Wrong options:

• shares: Shares are the units of ownership in a company, but they do not fit grammatically as a subject in this context.
• peace: Peace is a noun referring to a state of tranquility, which does not relate to ownership or investment in this context.
• decorate: Decorate is a verb meaning to make something look more attractive, which is irrelevant to the context of ownership.
• passage: Passage is a noun referring to the act of passing through, which does not relate to the concept of ownership.
• guarantor: Guarantor is a noun that refers to a person or entity that guarantees something, which does not fit the context of ownership.
• signed: Signed is a verb that indicates the action of signing, which does not fit as a noun in this context.
• left: Left is a verb that indicates the action of leaving, which does not relate to the ownership of the canal.

Correct answer: signed

Explanation: The word 'signed' is the past participle of the verb 'sign,' indicating that the Convention of Constantinople was formally agreed upon by the major European powers. This fits grammatically as it describes an action that took place in the past, aligning with the historical context of the sentence.

Meaning: 'Signed' means to have written one's signature on a document, indicating agreement or approval.

Wrong options:

• shares: Shares is a noun that does not fit grammatically as it does not indicate an action related to the signing of a document.
• peace: Peace is a noun that does not relate to the action of signing and does not fit in this context.
• decorate: Decorate is a verb that does not relate to the context of signing a document and is irrelevant here.
• passage: Passage is a noun that refers to the act of passing through, which does not fit the context of signing a convention.
• guarantor: Guarantor is a noun that refers to a person or entity that guarantees something, which does not fit as an action in this context.
• left: Left is a verb that indicates the action of leaving, which does not relate to the signing of the convention.

Correct answer: passage

Explanation: The term 'passage' refers to the act of moving through a space, which is appropriate in the context of the canal being open for navigation. It fits grammatically as a noun that describes the intended use of the canal by all nations.

Meaning: 'Passage' means the act of passing through or the right to pass through a particular area.

Wrong options:

• shares: Shares are units of ownership in a company and do not relate to the act of moving through a canal.
• peace: Peace is a noun referring to a state of tranquility, which does not fit the context of navigation or movement.
• decorate: Decorate is a verb that means to make something look more attractive, which is irrelevant to the context of passage through a canal.
• guarantor: Guarantor is a noun that refers to a person or entity that guarantees something, which does not fit the context of movement through the canal.
• signed: Signed is a verb that indicates the action of signing, which does not relate to the act of passage.
• left: Left is a verb that indicates the action of leaving, which does not fit the context of passage.

Correct answer: guarantor

Explanation: The term 'guarantor' refers to a person or entity that guarantees the neutrality of the canal, which is contextually appropriate as it describes Britain's role in ensuring the canal remains neutral. It fits grammatically as a noun that aligns with the subject of the sentence.

Meaning: A 'guarantor' is someone who provides a guarantee or assurance, particularly in legal or formal contexts.

Wrong options:

• shares: Shares are units of ownership in a company and do not relate to the role of guaranteeing neutrality.
• peace: Peace is a noun referring to a state of tranquility, which does not fit the context of guaranteeing neutrality.
• decorate: Decorate is a verb that means to make something look more attractive, which is irrelevant to the context of guaranteeing neutrality.
• signed: Signed is a verb that indicates the action of signing, which does not fit as a noun in this context.
• left: Left is a verb that indicates the action of leaving, which does not relate to the role of a guarantor.