Which of the Following Is NOT a Distinguishing Feature of Closely

question 16

Multiple Choice

Which of the following is NOT a distinguishing feature of closely held corporations?

• A)The number of shareholders is restricted.
• B)The directors of the company are prohibited from holding more than 60 percent of the outstanding shares.
• C)The number of required shareholders can be as small as one.
• D)Any invitation to the public to buy shares is prohibited.
• E)The right to transfer shares must be restricted in some manner.

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Definitions:

White-Collar Crime

Non-violent crime committed for financial gain typically involving deceit, concealment, violation of trust, and not depending on the application or threat of physical force or violence.

Fraudulently

In a manner intended to deceive or cheat, often involving financial or legal deception.

Bribery

The act of offering, giving, receiving, or soliciting something of value for the purpose of influencing the action of an official in the discharge of his or her public or legal duties.

Commercial Bribery

The act of providing or offering something of value to an employee or agent of a business to influence their decisions in favor of the giver, outside of their employer's knowledge and consent.