Question

Closely held corporations or (privately owned corporations):

Options:
a) Publicly traded corporations
b) Limited Liability Companies (LLCs)
c) Partnership firms
d) Joint-stock companies

Answer 1

A closely held corporation, also known as a privately owned corporation, is a type of business entity that is not publicly traded on a stock exchange. Instead, it is owned by a small number of shareholders, often members of the same family or a select group of individuals. Examples of closely held corporations include large companies such as Mars candy company and Bechtel engineering and construction firm. These corporations are privately owned and do not have publicly issued stock, meaning the ownership is limited to a select group of individuals.

Step-by-step explanation:

A closely held corporation, also known as a privately owned corporation, is a type of business entity that is not publicly traded on a stock exchange. Instead, it is owned by a small number of shareholders, often members of the same family or a select group of individuals.

Examples of closely held corporations include large companies such as Mars candy company and Bechtel engineering and construction firm. These corporations are privately owned and do not have publicly issued stock, meaning the ownership is limited to a select group of individuals.

In contrast, publicly traded corporations, also known as publicly held corporations, have stock that is available for purchase by the general public on stock exchanges.