Which of the Following Has a Restriction on the Number

question 128

Multiple Choice

Which of the following has a restriction on the number of owners, members, or stockholders?

• A) S-corporation
• B) Not-for-profit corporation
• C) Open corporation
• D) Limited-liability company
• E) Cooperative

---

Definitions:

Line of Credit Agreement

A legal agreement between a financial institution and a borrower that establishes a maximum loan balance that the lender allows the borrower to access.

Specified Period

A defined duration or timeframe during which certain actions, events, or conditions are intended to take place or be in effect.

Contractually Committed

A term indicating that parties are legally obliged to carry out the terms of a contract, including payments, deliveries, or services.

Blanket Lien

A lien that gives the lienor the entitlement to take possession of any or all of the lienee's real and personal property to satisfy a debt.