Which of the following is considered by accountants to be a separate entity from its owner(s)?
A)Partnership only
B)Sole proprietorship only
C)Corporation only
D)Sole proprietorship,partnership,and corporation

Question

Quizplus · Accepted Answer

A corporation is considered by accountants to be a separate entity from its owner(s) because it is a legal entity that is separate and distinct from its owners. This means that the corporation can own property, enter into contracts, and sue and be sued in its own name. The owners of a corporation are not personally liable for the debts and obligations of the corporation.

Which of the Following Is Considered by Accountants to Be