Public company 50 or 500 shareholders?

[dyii22]

Just got my AOS1 SAC back, happy with my score and I know this first sac is almost negligible, but in a question which asked to discuss the similarities and differences between a public and private company I wrote that a public company has over 500 shareholders whereas a private company has less than 50. One of the other teachers told his class this was the correct definition, but my teacher said the textbook (key concepts) said it was over 50 and he'll go with that unless I can show him a reputable source which says it's over 500. I was just wondering whether this was mentioned in any other textbooks?

Thanks

[Summers]

Public = essentially infinite. Well always limited but changing.
Private = 50.

[Einstein]

Public company has a minimum of 50 shareholders, whereas private have up to 50.

[Only Cheating Yourself]

Just got my AOS1 SAC back, happy with my score and I know this first sac is almost negligible, but in a question which asked to discuss the similarities and differences between a public and private company I wrote that a public company has over 500 shareholders whereas a private company has less than 50. One of the other teachers told his class this was the correct definition, but my teacher said the textbook (key concepts) said it was over 50 and he'll go with that unless I can show him a reputable source which says it's over 500. I was just wondering whether this was mentioned in any other textbooks?

Thanks

I think we had the same sac mate!  Were the other questions difference between GBE's and government departments?

And yea buddy, private corporations have 1-50 shareholders and public have unlimited, and there shares are traded on the ASX.