Asked by Carlos Iturralde on May 27, 2024
Verified
In many states, close corporations have more flexibility in determining their rules of operation.
Close Corporations
Businesses characterized by a small number of shareholders, no public shares, and often more relaxed corporate governance standards.
Flexibility
The quality of being adaptable or variable in order to accommodate different circumstances or needs.
Rules of Operation
refer to established procedures or guidelines that govern the functioning or conduct of an organization, system, or process.
- Absorb the fundamental aspects and unique attributes of close and benefit corporations.
Verified Answer
Learning Objectives
- Absorb the fundamental aspects and unique attributes of close and benefit corporations.
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