Trevor and Tyler own all the stock in the Double T Corporation. The stock of this corporation is not sold to the general public. Trevor and Tyler own a:
A) limited liability company.
B) master limited partnership.
C) alien corporation.
D) closed corporation.

Question

Quizplus · Accepted Answer

A closed corporation is a type of privately held company in which the shares of stock are not publicly traded. Owners of a closed corporation may have limited liability protection, and the business can be managed in a more flexible way compared to a publicly traded company. Therefore, as Trevor and Tyler own all the stock in the Double T Corporation, it is considered a closed corporation.

Trevor and Tyler Own All the Stock in the Double