A corporation whose stock is owned by relatively few people and is not traded openly in stock markets is called a(n) ____________ corporation.
A)public
B)private
C)partnership
D)common
E)preferred

Question

Quizplus · Accepted Answer

A private corporation is owned by a small number of people and the stocks are not traded publicly. This type of corporation is also not required to provide disclosure and financial statements to the general public. Therefore, answer B is the correct choice.

A Corporation Whose Stock Is Owned by Relatively Few People