Ask Question
BusinessBusiness
28 August, 01:40

Integrated Devices, Inc., is a private, for-profit corporation that is owned by seven shareholders who are members of the same family. Integrated is a. an S corporation. b. a close corporation. c. a public corporation and a private corporation. d. a benefit corporation.

+3
Answers (1)
  1. 28 August, 04:41
    0
    b. a close corporation

    Explanation:

    A closed corporation refers to a company in which shares are held by select few individuals who usually are closely linked with business. Such form of a company is also referred to as family corporation.

    In these form of corporations, the investments from outsiders are closed i. e from general public and thus referred to as a close corporation. Shareholding belong to owners or family members in most of the cases.

    Such firms are not listed on stock exchanges and hence do not permit general public to subscribe to their shares. Wherein, any one of the shareholders desires to liquidate his share, the other members buy out such share.

    In the given case, Integrated Devices Inc., a private, for profit company is wholly owned by members of the same family. Thus, it represents a close corporation.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Integrated Devices, Inc., is a private, for-profit corporation that is owned by seven shareholders who are members of the same family. ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
An instance where sellers should work to keep relationships with consumers is when they feel that the product
Answers (1)
When the fed buys government bonds, the reserves of the banking system a. decrease, so the money supply increases. b. decrease, so the money supply decreases. c. increase, so the money supply increases. d. increase, so the money supply decreases?
Answers (1)
The underlying principle found in almost all codes of ethics established by professional organizations or corporations is
Answers (1)
Price discrimination refers to A. the practice of charging different prices to different buyers for goods of like grade and quality. B. a conspiracy among firms to set prices for a product or service. C.
Answers (1)
What is the operating cash flow for Micheal's Bakery given the below information for the company? Sales $135,000 COGS 59,000 Depreciation Expense 25,000 Interest paid 12,000 Tax rate 21% a. $58,860 b. $56,000 c. $66,760 d. $74,660 e. $67,810
Answers (1)
New Questions in Business
Which of the following are true? Select one or more: (a) The t-distribution is dependent on the sample size. (b) The t-distribution does not depend on the sample size.
Answers (1)
Santoyo Corporation keeps careful track of the time required to fill orders. Data concerning a particular order appear below: Hours Wait time 13.6 Process time 2.7 Inspection time 0.3 Move time 3.3 Queue time 7.0 The delivery cycle time was:
Answers (1)
During 2021, its first year of operations, Pave Construction provides services on account of $160,000. By the end of 2021, cash collections on these accounts total $110,000. Pave estimates that 25% of the uncollected accounts will be uncollectible.
Answers (1)
How often is interest earned from bonds usually paid to the bond holder? 1) Every month 2) Once per year 3) Twice per year 4) Every two years
Answers (1)
Rexeleg Company manufactures a product with the following costs per unit at the expected production of 40,000 units: Direct materials $5 Direct labor 10 Variable overhead 7 Fixed overhead 9 The company has the capacity to produce 50,000 units.
Answers (1)
Home » Business » Integrated Devices, Inc., is a private, for-profit corporation that is owned by seven shareholders who are members of the same family. Integrated is a. an S corporation. b. a close corporation. c. a public corporation and a private corporation. d.
Sign Up Forgot Password?