Asked by
Francis CuLaLa
on Nov 15, 2024
Verified
A business organized as a separate legal entity is a
A) corporation.
B) proprietorship.
C) government unit.
D) partnership.
Separate Legal Entity
A business structure that is legally distinct from its owners, allowing it to own assets, incur liability, and conduct business in its own name.
Corporation
A legal entity formed by individuals, shareholders, or shareholders, recognized as separate from its owners with its own rights and liabilities.
- Acquire knowledge about the differences between various business organization types and their unique characteristics.
- Understand the concept of a legal entity and its implementation across various business structures.
Verified Answer
EG
Learning Objectives
- Acquire knowledge about the differences between various business organization types and their unique characteristics.
- Understand the concept of a legal entity and its implementation across various business structures.