The death of the firm's owner(s) does NOT effectively dissolve which type(s) of organization?
A) Sole proprietorship.
B) Partnership.
C) Corporation.
D) Hybrid partnership.
E) Limited proprietorship.

Question

Quizplus · Accepted Answer

Corporations are structured to have a legal identity separate from their owners (shareholders), allowing them to continue operations independently of the life status of any individual owner. This structure contrasts with sole proprietorships and traditional partnerships, where the death of an owner can lead to the dissolution of the business unless specific arrangements are made.

The Death of the Firm's Owner(s) Does NOT Effectively Dissolve