Which statement is untrue for private (Ltd) companies?
A) They are less regulated than public companies.
B) They tend to be associated with smaller businesses.
C) There are fewer private companies in Australia than public companies.
D) The shareholders are often family members.

Question

Quizplus · Accepted Answer

According to the Australian Securities and Investments Commission, as of June 2021, there were approximately 2.7 million proprietary (private) companies registered in Australia compared to around 2,200 public companies. Therefore, there are actually more private companies than public companies in Australia, making statement C untrue. Statements A, B, and D are all true for private companies.

Which Statement Is Untrue for Private (Ltd) Companies