Question

Inkglot Technologies, a medium-sized corporation, is allowed to have only 35 stockholders at any point of time. However, all stockholders of the company can actively participate in the management of the company while still maintaining limited liability. Given this information, Inkglot Technologies is most likely a(n):A. S corporation.
B. C corporation.
C. not-for-profit corporation.
D. statutory close corporation.

Answer 1

Answer: (D) Statutory close corporation

Explanation:

The statutory close operation is one of the type of corporation in which the the organization are basically based on the various statutory formalities.

This corporation mainly allow the Article of an organization that operate various types broad of director in the corporation.

The main advantage of the statutory close corporation is that it include the liability limitations where the shareholder in an organization does not face any problem regarding the debts.

Therefore, Option (D) is correct.