Which of the Following Is Synonymous with the Term "Closely

question 17

Multiple Choice

Which of the following is synonymous with the term "closely held" with respect to corporate entities?

• A) unlimited liability corporation
• B) limited liability corporation
• C) private corporation
• D) public corporation

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Definitions:

Cheques Presented

Refers to the cheques that have been submitted to a bank for payment and are pending clearance.

Money Market Account

A type of savings account that typically offers higher interest rates, with some restrictions on withdrawal.

Cash Surplus

The amount of cash that exceeds the cash needs of a company, indicating a positive financial state with excess liquidity.

Major Expenditure

A significant financial outlay, often relating to the purchase of fixed assets, long-term investments, or other large-scale business expenses.