A business created as a distinct legal entity and treated as a legal "person" is called a(n):
A) corporation.
B) sole proprietorship.
C) general partnership.
D) limited partnership.
E) unlimited liability company.

Question

Quizplus · Accepted Answer

A corporation is a legal entity created to conduct business. It is treated as a distinct legal "person" and has the ability to enter into contracts, sue and be sued, and own assets separately from its owners.

A Business Created as a Distinct Legal Entity and Treated