Which of the following is untrue regarding closely held corporations?
A) Most corporations in the U.S.are closely held.
B) In most states,closely held corporations are subject to the general incorporation statute governing all corporations.
C) Shareholders usually have little voice in the management and control of the business.
D) Some states have enacted special legislation to accommodate the needs of closely held corporations.

Question

Quizplus · Accepted Answer

Shareholders of closely held corporations typically have more involvement in the management and control of the business compared to shareholders of publicly traded corporations.

Which of the Following Is Untrue Regarding Closely Held Corporations