Practice Quiz

CLEP Business Law

Category - Legal Envrmt

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A public company is:
  1. A company that is listed on the New York Stock Exchange.
  2. A listed company.
  3. A company that has issued securities through an initial public offering and is traded on the open market.
  4. A company owned by a small amount of shareholders.
  5. A company that has shareholders.
Explanation
Answer: C. A public company is a company that has issued securities through an initial public offering and is traded on the open market. Shares of a public company may be traded on any of number of major exchanges. A public company is able to raise capital through the sale of its shares.
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