Edward would like a form of business that is a separate legal entity, with most of the legal rights of a real person. Which form of business should he consider?
A) sole proprietorship
B) partnership
C) corporation
D) joint venture

Question

Quizplus · Accepted Answer

A corporation is a separate legal entity that has most of the legal rights of a real person, such as the ability to enter into contracts, own property, sue and be sued, and pay taxes. This offers greater protection of personal assets and limited liability for its shareholders. Sole proprietorship and partnership do not offer this level of legal protection and joint venture is a temporary business arrangement between two or more parties.

Edward Would Like a Form of Business That Is a Separate