Which of the following would your lawyer likely suggest as the most compelling reason for the creation of a corporate business entity?

Question

Quizplus · Accepted Answer

Creating a corporate business entity is primarily done to limit the owners' liability in the event of bankruptcy. By creating a corporation, the owners' personal assets are protected and they are not personally liable for the debts of the company. This is a key benefit of incorporating and is often the most compelling reason for doing so. The other options listed (A, C, and D) do not accurately describe the benefits of creating a corporate business entity.

Which of the Following Would Your Lawyer Likely Suggest as the Most