Several prominent owners of a uranium mining company pass away within a period of two years. However, the company continues to operate as it remains financially viable and a majority of its stockholders wish for the continuation of the business. In this scenario, the uranium mining company is an example of a _____.
A) sole trader
B) limited partnership company
C) general partnership company
D) C corporation

Question

Quizplus · Accepted Answer

A C corporation is a legal entity that is separate from its owners, allowing it to continue operations despite changes in ownership or the death of shareholders.

Several Prominent Owners of a Uranium Mining Company Pass Away