An entity that is organized according to state law and in which ownership units are called stock is a:
A) proprietorship.
B) corporation.
C) partnership.
D) limited liability company.

Question

Quizplus · Accepted Answer

A corporation is an entity that is organized according to state law and has shareholders who own stock in the company. Proprietorship, partnership, and limited liability company do not have ownership units called stock.

An Entity That Is Organized According to State Law and in Which