Please Define the Following Key Terms

question 21

Short Answer

Please define the following key terms.
- Tokyo

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Definitions:

Corporation

A legal entity recognized by law as separate from its owners, with its own rights and responsibilities.

Close Corporations

A type of business structure where the number of shareholders is limited, and stock is not publicly traded, often managed in a hands-on manner by its owners.

Fiduciaries

Individuals, organizations, or entities that hold a position of trust and are required to act in the best interest of another party, such as a trustee or financial advisor.

Shareholders

Individuals or entities that own shares in a corporation, thereby having a financial interest in its performance and governance.