Asked by Mackenzie Vatter on May 14, 2024
Verified
A corporation whose shares are held by relatively few persons is a close corporation .
Close Corporation
A type of business corporation that is privately held, with a limited number of shareholders and restrictions on share transfers.
Shares
Units of ownership interest in a corporation or financial asset, providing a proportionate claim on the company's assets and profits.
Few Persons
A term not widely used in a specific financial or legal context; generally, it refers broadly to a small number of individuals.
- Understand the principles of close and benefit corporations, including their distinct features.
Verified Answer
May 17, 2024
Learning Objectives
- Understand the principles of close and benefit corporations, including their distinct features.
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