An artificial entity created by the state and existing apart from its owners is known as:
A) a partnership.
B) a proprietorship.
C) a corporation.
D) an association.
E) a trade alliance.

Question

Quizplus · Accepted Answer

A corporation is a legal entity that is separate from its owners, called shareholders. It is created by the state through the process of incorporation and has its own rights, obligations, and legal personality, which are distinct from those of its shareholders. This enables the corporation to enter into contracts, own property, sue and be sued, and undertake other legal actions in its own name.

An Artificial Entity Created by the State and Existing Apart