Wiley incorporates his business as Wiley Wire Corporation in Texas. He and his group of shareholders intend to make a profit from their sales of fencing wire. Wiley Wire Corporation is ________.a. a nonprofit corporation.
b. not a corporation.
c. an alien corporation.
d. a private corporation.

A private corporation is a limited company that is owned by a few numbers of shareholders. The shares of a private corporation are not publicly traded in the securities exchanges, neither are they issued through an initial public offer. Ownership of a private corporation is transferable but is restricted to the founders who, in most cases, are family members, close friends, or associates.

Wiley and the shareholders have a private corporation. Formation of a private corporation is through incorporation, as is the case of Wiley wire corporation. Private corporations are established with a profit motive. Ownership of Wiley wire corporation will be restricted to Wiley and the other shareholders.

Wiley incorporates his business as Wiley Wire Corporation in Texas. He and his group of shareholders intend to make a profit from their sales of fencing wire. Wiley Wire Corporation is ________.a. a nonprofit corporation. b. not a corporation. c. an alien corporation. d. a private corporation.

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Wiley incorporates his business as Wiley Wire Corporation in Texas. He and his group of shareholders intend to make a profit from their sales of fencing wire. Wiley Wire Corporation is ________.a. a nonprofit corporation.
b. not a corporation.
c. an alien corporation.
d. a private corporation.