An entity that is organized according to state or federal statutes and in which ownership is divided into shares of stock is a
A) proprietorship
B) corporation
C) partnership
D) governmental unit

Question

Quizplus · Accepted Answer

This entity is a corporation, as it is organized according to state or federal statutes and ownership is divided into shares of stock. A proprietorship is a business owned and operated by one individual, while a partnership is a business owned by two or more individuals. A governmental unit is a type of public organization.

An Entity That Is Organized According to State or Federal