A ___________________ is a federally or provincial-chartered legal entity with authority to act and to have liability separate from its owners.
A)limited partnership
B)corporation
C)general partnership
D)non-profit organization

Question

Quizplus · Accepted Answer

A corporation is the only choice given that fits the provided definition of a legal entity with separate liability from its owners. Limited partnerships and general partnerships both involve some personal liability for the partners, while non-profit organizations do not necessarily have separate legal status from their founders or members.

A ___________________ Is a Federally or Provincial-Chartered Legal Entity with Authority