Which of the following is synonymous with the term "closely held" with respect to corporate entities?

Question

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A closely held corporation is also known as a private corporation, as opposed to a public corporation which is widely held by a large number of shareholders. Private corporations are typically owned and operated by a small group of individuals or a family, and are not publicly traded on a stock exchange. Choices A and B (unlimited liability corporation and limited liability corporation) are not synonymous with the term "closely held".

Which of the Following Is Synonymous with the Term "Closely