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

A. a close corporation.

B. none of the choices.

C. a nonprofit corporation.

D. an S corporation.

Question

Leonidas

Social Studies

20 June, 16:15

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

A. a close corporation.

B. none of the choices.

C. a nonprofit corporation.

D. an S corporation.

+5

Answers (1)

Know the Answer?

Trenton Dickson · Answer 1

Answer: the correct answer is A. a close corporation

Explanation:

A closed corporation is a company whose shares are held by a select few individuals (in this case, the members of the same family) who are usually closely associated with the business.

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 A. a close corporation. B. none of the choices. C. a nonprofit corporation. D. an S corporation.

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

A. a close corporation.

B. none of the choices.

C. a nonprofit corporation.

D. an S corporation.