Which statement best describes a private enterprise?
A)Any entity that is not a publicly accountable enterprise.
B)Any for-profit organization that is not a publicly accountable enterprise.
C)An entity that holds assets in a legal capacity for a broad group of outsiders as one of its primary businesses.
D)Any entity, excluding a not-for-profit organization.

Question

Quizplus · Accepted Answer

A private enterprise is typically a for-profit organization that is not publicly accountable, meaning it is not required to disclose financial information to the public. Option B is the only choice that accurately describes a for-profit entity.

Which Statement Best Describes a Private Enterprise