A close corporation is one whose shares are held by a single person, members of a family, or relatively few unrelated persons.

Name: A close corporation is one whose shares are held by a single person, members of a family, or relatively few unrelated persons.
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Question

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A close corporation is typically characterized by having a limited number of shareholders, often involving family members or a small group of individuals, and its shares are not publicly traded.

A Close Corporation Is One Whose Shares Are Held by a Single