Miracle Mobile Devices, Inc., is a private, for-profit corporation that is owned by five shareholders who are members of the same family. Miracle is

Question

Miracle Mobile Devices, Inc., is a private, for-profit corporation that is owned by five shareholders who are members of the same family. Miracle is​

Quizplus · Accepted Answer

Miracle Mobile Devices, Inc., meets the criteria for a close corporation, which is a type of corporation that has a small number of shareholders who are often family members, and they operate the corporation informally.