There are a number of differences between a public company and a private company. Which ONE of the following is NOT a valid difference?

Select one:

a.

Public companies may offer their shares to the public, whereas private companies may not.

b.

Private companies can be created with a trivial amount of capital, whereas public companies must have an allotted minimum share capital of $500,000.

c.

A private company must be formed with at least one director, whereas a public company must have at least three directors.

d.

A private company has no obligation to file accounts even if some of its shares are held by a body corporate.