Unisian

No ratings found yet!

Unisian

Visit Store

“MAC2601: Exam Pack with notes” has been added to your cart. View cart

OTE2601 Assignment 2 Due 7 June 2024

R50.00
1 Downloads

ASSIGNMENT 02

QUESTION 1

Every entrepreneur has certain expectations and goals when choosing a business.

1.1 What is a close corporation in business? Give one examples.

A close corporation (CC) in business is a type of legal entity that is similar to a
partnership but has limited liability for its members. It is typically a small business
structure where the owners are involved in the day-to-day operations and
management. In a close corporation, the number of shareholders is limited, and the
shares are not publicly traded. One example of a close corporation could be a familyowned
restaurant
where
the
family
members
are
the
shareholders
and
actively

participate
in
running
the
business.