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A business created as a distinct legal entity composed of one or more individuals or entities is called a:
A. General partnership.
B. Corporation.
C. Limited partnership.
D. Unlimited liability company.
E. Sole proprietorship.

Sagot :

KitdaAneekidn

Answer:

B. Corporation.

Explanation:

A corporation can be defined as a legal entity that operates as an actual distinct legal individual from the owners. It can be an agent for shareholders and it can contract and incur debts and other obligations with financial institutions. A corporation’s proprietor is the shareholder, and they are the one who shares in the income and expenses that a firm earns or incurs, respectively, in its operations.

Therefore the correct answer is B.

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