Wiley incorporates his business as Wiley Wire Corporation in Texas to profit from sales of fencing wire.Wiley and the members of his family constitute the shareholders.Wiley Wire Corporation is

Question

Quizplus · Accepted Answer

Since Wiley and his family members constitute the shareholders and the intention is to profit from sales, it is likely that they want to maintain control of the corporation. This indicates that a close corporation, which is a type of corporation with a limited number of shareholders who have significant control and involvement in the management of the corporation, would be the best choice.

Wiley Incorporates His Business as Wiley Wire Corporation in Texas