Brewer Bikes, Inc. is a company that sells bicycles and accessories. It has been owned and operated by the Brewer family for 25 years. The Brewers own all the corporation's stock, and they are not required to disclose financial information publicly. What type of business is this?

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Quizplus · Accepted Answer

This is a private corporation, which is owned by just one or a few people, often a family, who are involved in managing the business and who own all the corporation's stock. Privately owned corporations are not required to disclose financial information publicly.