According to SEC rules,a company that has fewer than 500 shareholders and does not allow its securities to be openly traded is called a(n):

Question

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According to SEC rules, a company with fewer than 500 shareholders and that does not allow its securities to be openly traded is considered a private company. This means that its shares are not available for purchase on a public stock exchange and are instead typically owned by a small group of investors, founders or employees. Private companies are not required to file public financial reports or disclosure documents, which is a significant difference from publicly traded companies.

According to SEC Rules,a Company That Has Fewer Than 500