Which of the following types of organizations have the entity legally separate from its owners?
A)corporation
B)proprietorship
C)partnership
D)sole proprietorship

Question

Quizplus · Accepted Answer

Corporations are legally distinct entities from their owners, meaning they can own property, incur debt, sue and be sued independently of the people who own them. This separation provides a layer of protection for the owners' personal assets from the corporation's liabilities. Proprietorships and partnerships, on the other hand, do not offer this separation; the owners are legally considered the same as the business.

Which of the Following Types of Organizations Have the Entity