NECO Commerce 2023 Objective — Question 13

Question 13 of 50 from the National Examinations Council (NECO) Commerce 2023 Objective paper, with the correct answer and a full explanation.

A corporation whose shares are sold to a select group of investors, such as family members or venture capitalists, is called a (a) public corporation (b) statutory corporation (c) private corporation (d) cooperative corporation

A. public corporation
B. statutory corporation
C. private corporationCorrect
D. cooperative corporation

Explanation

Private corporations sell their shares to a select group of investors such as family, friends or venture capitalists, rather than the general public through a stock exchange.

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