True. In South Africa, the term "corporation" can refer to both companies (which include public and private companies) and close corporations (CCs), which are a distinct type of business entity that was more common before the Companies Act of 2008 restructured corporate laws. However, close corporations have largely been phased out in favor of companies under the current legal framework.
the term corporation is used to denote both companies and close corporations in South africa
true or false
1 answer