Thirteen sorority sisters decide to start a dog walking business.They incorporate under the name Pro Canine Walkers,Inc.and advertise their services throughout the city in newspapers and with flyers they post.All stock is owned by the thirteen principals and none is offered to anyone outside of the thirteen.This corporation would be classified as:

Question

Quizplus · Accepted Answer

The corporation is owned solely by the thirteen principals and no stock is offered to anyone outside of them. This meets the criteria of a privately held corporation, which is a corporation whose stock is owned by a small group of individuals and is not publicly traded on a stock exchange. The other choices are not applicable because they do not accurately describe the ownership structure or characteristics of the corporation.

Thirteen Sorority Sisters Decide to Start a Dog Walking Business