A corporation:
A)is ultimately controlled by its board of directors.
B)is a legal entity separate from its owners.
C)is prohibited from entering into contractual agreements.
D)has its identity defined by its bylaws.
E)has its existence regulated by the rules set forth in its charter.

Question

Quizplus · Accepted Answer

A corporation is a legal entity separate from its owners, meaning it can own property, incur liabilities, and enter into contracts independently of its shareholders.

A Corporation