Which type of entity exists independent of the owners?
A) sole proprietorship
B) corporation
C) partnership
D) joint venture

Question

Quizplus · Accepted Answer

A corporation is a legal entity that exists independently of its owners, also known as shareholders. It has its own legal rights, such as the ability to enter into contracts and own property, and is responsible for its own debts and liabilities. The other options, sole proprietorship, partnership, and joint venture, all involve the ownership and control of the entity being directly tied to the individuals involved.

Which Type of Entity Exists Independent of the Owners