While There Are Many Forms of Ownership,the Three Major Forms

question 28

True/False

While there are many forms of ownership,the three major forms are: proprietorship,partnership,and S-corporation.

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Definitions:

Shareholders

Individuals or entities that own shares in a corporation, giving them ownership interests and rights within the company.

Sarbanes-Oxley

A federal law that set new or expanded requirements for all U.S. public company boards, management, and public accounting firms.

Public Company

A corporation whose shares are traded openly on stock exchanges or markets, making its ownership public.

Small Corporations

Refers to corporations with a limited number of shareholders and reduced regulatory requirements.