A corporation whose stock can be purchased by anyone and is traded in stock markets is known as a(n) ______.
A) partnership
B) S-corporation
C) closed corporation
D) open corporation
E) not-for-profit corporation

Question

Quizplus · Accepted Answer

An open corporation is one whose stock is publicly available for purchase by anyone and traded in stock markets. A partnership is a business owned by two or more individuals, a closed corporation restricts the number of shareholders and their ability to sell shares, and an S-corporation is a specific type of corporation taxed similarly to a partnership. A not-for-profit corporation is a type of corporation that has a charitable or social mission and is not intended to generate profits for shareholders.

A Corporation Whose Stock Can Be Purchased by Anyone and Is