Question

Piper is a manager in a corporation that was organized in Canada by one of his former coworkers. The company provides consulting services and training for architects employed by construction companies. The company recently went public, with shares being sold to hundreds of investors. Piper’s company would be a __________ corporation.

Answer 1

Answer:

A Public company.

Explanation:

A public company can be described as a commercial organization that has its share capital formed by shares, that is, the company sells its shares to the public, who become partners in the company.

The shares of a public company are traded on the stock exchange freely, without the need for any type of public bookkeeping.

The company's shareholders can be composed of any type of person who is interested in buying shares in the company.

Private companies generally become public because of the possibility of obtaining capital, which generates greater revenue for the company and greater possibility for growth and investment in business.