_____ is a property which distinguishes corporations from proprietorships and partnerships.
A)Unlimited liability
B)Division of labor
C)Separation of ownership and management
D)Centralized management and control

Question

Quizplus · Accepted Answer

Separation of ownership and management is the property which distinguishes corporations from proprietorships and partnerships. In corporations, the company is a separate legal entity from its owners and a board of directors manages the business on behalf of the shareholders. This is different from proprietorships and partnerships where the owners also manage the day-to-day operations of the business.

_____ Is a Property Which Distinguishes Corporations from Proprietorships and Partnerships