Starting in 2011, What Is the Definition of a Private

Multiple Choice

Starting in 2011, what is the definition of a private enterprise (PE) under Canadian GAAP?

A) A corporation that has no public shareholders.
B) A corporation that has less than 500 shareholders and is not listed on a stock exchange.
C) A corporation which is not profit oriented.
D) A profit oriented enterprise that has none of its issued and outstanding financial instruments traded in a public market and does not hold assets in a fiduciary capacity for a broad group of outsiders as one of its primary businesses.