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

A corporation is a separate legal entity from its owners, meaning that even if the owner(s) were to pass away, the corporation would continue to exist and operate. In contrast, a sole proprietorship and partnership are both tied directly to the owner(s) and would therefore dissolve upon their death. Hybrid partnerships and limited proprietorships are not recognized legal forms of organization.

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