Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 23 - No. 45)
What does the text say is a key difference between a private and public company?
Private companies are smaller than public companies.
Public companies can sell shares to the public on the Stock Exchange.
Private companies are owner managed and public companies are run by directors
Public companies are only for small businesses.
Explanation
Private companies are generally smaller and owner-managed, while public companies are larger and have publicly traded shares.
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