Which form of business organization is established as a legal entity separate from its owners? - Sole proprietorship - Corporation - Partnership - None of these

Business Dec 09, 2020

Which form of business organization is established as a legal entity separate from its owners?

- Sole proprietorship

- Corporation

- Partnership

- None of these

Expert Solution

The answer is - Corporation

A corporation is a form of a business organization established as a legal entity separate from its owners by the authority of state law. It has its legal rights, it can sue or be sued, and they are allowed to own and sell a property.

Partnership is an association of two or more individuals to carry out business with the aim of making profits.
Sole proprietorship is a form of business where an individual starts a business with a motive of making a profit.

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