Convenience Mart, Inc., is a close corporation. Convenience Mart is

Question

Quizplus · Accepted Answer

Close corporations have the ability to restrict the transfer of their stock, which is not a typical power of a public corporation.

Answer: D 
 Close corporations are typically taxed in the same manner as a partnership, which means the income is taxed at the individual level rather than the corporate level.

Therefore, the correct answer would be a combination of choices C and D: 
Answer: CD 
 Close corporations have the ability to restrict the transfer of their stock and are typically taxed in the same manner as a partnership.