Inkglot Technologies, a medium-sized corporation, is allowed to have only 35 stockholders at any point of time. However, all stockholders of the company can actively participate in the management of the company while still maintaining limited liability. Given this information, Inkglot Technologies is most likely a(n):
A) S corporation.
B) C corporation.
C) not-for-profit corporation.
D) statutory close corporation.

Question

Quizplus · Accepted Answer

A statutory close corporation typically has a limited number of shareholders and allows them to participate in management while maintaining limited liability, fitting the description of Inkglot Technologies.

Inkglot Technologies, a Medium-Sized Corporation, Is Allowed to Have Only