A legal entity with authority to act separately from its owners is known as a ___________.
A)corporation
B)sole proprietorships
C)partnership
D)limited liability partnership

Question

Quizplus · Accepted Answer

A corporation is a legal entity that is separate from its owners, meaning it has its own legal rights and obligations. This allows it to enter into contracts, sue and be sued, and own property in its own name. The owners are shareholders who benefit from the profits, but also have limited liability for the corporation's debts and actions.

A Legal Entity with Authority to Act Separately from Its