A _____ is unaffected by the death or withdrawal of an owner.
A) sole proprietorship
B) general corporation
C) general partnership
D) limited partnership

Question

Quizplus · Accepted Answer

A general corporation is considered a separate legal entity from its owners/shareholders, which means that it is not affected by the death or withdrawal of an owner. This is known as the concept of perpetual existence. In contrast, a sole proprietorship, general partnership, and limited partnership are all tied to the specific individuals who own or operate them, and therefore can be impacted by the departure or death of an owner.

A _____ Is Unaffected by the Death or Withdrawal of an Owner