Which answer is the difference between a closely held corporation and a widely held corporation?

Question $18$ options:

Shareholders in a closely held corporation must be closely related$$ whereas shareholders in a widely held corporation are not restricted.

Closely held corporations must be regulated by securities legislation$$ whereas widely held corporations are not regulated by securities legislation.

Shares in a closely held corporation are not issued to members of the public$$ whereas shares in a widely held corporation may be issued to the general public.

Shareholders in a closely held corporation are never allowed to transfer their shares$$ whereas shares in a widely held corporation are transferrable.