An artificial entity created by the state and existing apart from its owners is known as a(n):
A) partnership
B) proprietorship
C) company
D) association
E) dealership.

Question

Quizplus · Accepted Answer

A company is an artificial entity created by the state, meaning it has legal rights and obligations separate from its owners. A partnership is a business owned by two or more individuals, a proprietorship is a business owned by one individual, an association is a group of individuals or organizations with a common purpose, and a dealership is a business that sells goods on behalf of a manufacturer or supplier. Only a company fits the description of an artificial entity created by the state.

An Artificial Entity Created by the State and Existing Apart