Question

"In order to be classified as a _______________, a firm must be owned by the people who run it on a day-to-day basis and cannot have publicly issued stock."

Answer 1

Answer:

private company

Explanation:

a private company is a company whose shares are not sold publicly - they are not traded on the public stock exchange. they also owned by the people who run them and not by managers.

Private firms are not bound by the  Securities and Exchange Commission's (SEC) filing requirement.