When a Corporation's Shares Are Owned by a Few Individuals

question 4

True/False

When a corporation's shares are owned by a few individuals who are associated with the firm's management, we say that the share is "closely held."

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Definitions:

Conditional

Referring to something that is dependent on certain conditions or requirements being met.

Unconditional

Unconditional means not subject to any conditions or limitations; absolute.

Small Business Administration (SBA)

A U.S. government agency that provides support to entrepreneurs and small businesses, including loans, grants, and educational resources.

Executive Agency

An agency that is typically located within the executive branch, under one of the cabinet-level departments. The agency head is appointed by the president with the advice and consent of the Senate.