The Wilson Furniture Company has been in existence for 75 years and was started as a family business. However, all members from the original business have since passed away, and none of the current owners are part of the Wilson family. This business is most likely to be which of the following?
A) sole proprietorship
B) corporation
C) partnership
D) joint venture

Question

Quizplus · Accepted Answer

Since the original family members are no longer part of the business and the current owners are not part of the Wilson family, it is likely that the business has gone through a process of incorporation, where it becomes a separate legal entity from its owners.

The Wilson Furniture Company Has Been in Existence for 75